Luis is married and has three children. Thanks to his hard work over a long period of time he has managed to buy his own house and start his own business there, which is a general store where he offers staple goods. In his own house, which he has had for the past 2 months, Luis and his family have been able to have a better quality of life, for which he is very grateful and continues working very hard to keep advancing.
Due to the fact that he started his business with very little capital, Luis is hoping that a loan will allow him to buy more staple goods to sell in his business and offer a greater variety of products to his customers. This way his customers will find his store to be more attractive and thus his sales will increase considerably. Also, with a greater income his family will be able to have a better quality of life and better economic opportunities in order to advance.
Luis se encuentra casado y tiene 3 hijos, y gracias a que se ha esforzado fuertemente durante un largo tiempo, ha logrado comprar su propia casa y allí poder montar su propio negocio el cual es una tienda general donde ofrece productos de la canasta familiar. Con su propia casa, la cual tiene hace 2 meses, Luis y toda su familia han podido tener una mejor calidad de vida, por esto se encuentra muy agradecido y sigue esforzándose fuertemente para seguir progresando. Debido a que su tienda la abrió con muy bajo capital, Luis busca que un préstamo le permita comprar productos de la canasta familiar para surtir su negocio y ofrecer una mayor variedad de productos a sus clientes.
De esta manera sus clientes encontrarán su tienda más atractiva y así sus ventas aumentarán considerablemente. Además, con mayores ingresos su familia podrá tener una mejor calidad de vida y mayores oportunidades económicas para progresar.
This loan is structured on Kiva as a bullet loan, which means a single payment is required at the end of the loan term. By Colombian law, Kiva's partner Interactuar is required to offer borrowers loans with a variable interest rate that fluctuates with the market rate. Because fixed monthly payments are applied first to interest and then to principal, Interactuar is unable to predict upfront what portion of each repayment would go towards the loan principal. This creates a challenge with Kiva's system, which doesn't allow for unpredictable principal payments, and can result in some Interactuar clients appearing falsely delinquent. To remedy this, the loan has an end-of-term repayment plan on Kiva, but the borrower will continue scheduled monthly repayments to Interactuar, who will then pass along the principal amount to Kiva lenders. This means that you may see repayments made on this loan throughout the repayment term, as opposed to receiving repayment in full at the end of the loan term.