Guillermo, seeking better financial opportunities to offer his family a better quality of life, opened a restaurant about 8 months ago. He works there with his oldest daughter. With this business, he has had the opportunity to make more income and his wife and 3 daughters have had better financial opportunitites to progress. That is why he is always looking for ways to make his business grow and keep progressing with his family. Since his business was opened with very little capital, Guillermo seeks a loan that will allow him to buy ingredients to make the meals and be able to offer his customers a wider variety of products.
This way, his business can be better capitalized and his customers can find better service in his restaurant. His dream is to get his business ahead and to get his family ahead, offering them a good quality of life and better financial opportunuties to keep progressing.
Guillermo en busca de mejores oportunidades económicas para brindar a su familia una mejor calidad de vida, montó hace aproximadamente 8 meses un restaurante el cual trabaja junto a su hija mayor. Con este negocio ha tenido la oportunidad de acceder a mejores ingresos y su esposa y sus 3 hijas han podido acceder a mejores oportunidades económicas para progresar, es por esto que siempre anda en búsqueda de que su negocio crezca para así seguir progresando con su familia. Debido a que el negocio fue montado con muy bajo capital, Guillermo busca que un préstamo le permita comprar insumos para la preparación de las comidas para poder ofrecer a sus clientes una mayor variedad de productos.
De esta manera su negocio podrá estar mejor capitalizado y así sus clientes podrán encontrarse con una mejor atención en el restaurante. Su sueño es sacar su negocio adelante y sacar su familia adelante brindándoles una buena calidad de vida y mejores oportunidades económicas para seguir progresando.
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.