Leocadio has had a video game arcade business for about one year. Through this business he generates the income necessary to maintain his household expenses. In his business he has a few video game consoles that, thanks to the good sales he has, are no longer sufficient in responding to the demand from his customers.
As a result he is requesting a loan to purchase a video game console, two chairs and a table to increase the capacity of his business to serve his customers. This way he will be able to offer his customers better service as he will be able to respond to the large demand from his customers. In addition he will be able to increase his income and his family will have the opportunity to have a better quality of life and better financial opportunities in order to advance.
Leocadio tiene un negocio de videojuegos desde hace aproximadamente 1 año con el cual genera los ingresos necesarios para el sostenimiento de los gastos de su hogar. En su negocio tiene una cantidad de consolas de videojuego que gracias a las buenas ventas que tiene ya no son suficientes para poder responder a la demanda de sus clientes, por esto busca un préstamo para comprar una consola de videojuegos, 2 sillas y una mesa para aumentar la capacidad de su negocio para atender a sus clientes.
De esta manera podrá ofrecer a sus clientes un mejor servicio, ya que podrá atender la gran demanda que tienen sus clientes. Además, podrá tener mejores ingresos con los que su familia tendrá la oportunidad de acceder a una mejor calidad de vida y mejores 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.