Jose is married and has 6 children. In order to make the income necessary to pay for his household expenses, he has a business making and selling mops. The products he offers his customers are of a very good quality. Thanks to the amount of experience he has in this business, he is well known. With his business, he has been able to offer his family a better quality of life and financial stability. That is why he works hard so his business will keep growing and his sales increase. Thanks to having a lot of orders from his customers and not having enough capital at this time, Jose seeks a loan to buy the raw materials he needs to fill the large orders he has from his customers.
This way, he will be able to respond to his customres and keep growing with his business. This will allow him to have more income in his home to be able to have a better quality of life and more financial stability in his home.
Jose se encuentra casado y tiene 6 hijos, y para generar los ingresos necesarios para el sostenimiento de los gastos de su hogar tiene un negocio de producción y venta de traperas en el cual ofrece a sus clientes productos de muy buena calidad y es reconocido gracias a la gran experiencia que tiene en esta actividad. Con su negocio, ha logrado ofrecerle a su familia una buena calidad de vida y una estabilidad económica en su hogar, por esto es que siempre se esfuerza arduamente para que su negocio siga creciendo y cada vez sus ventas aumenten. Gracias a que tiene grandes pedidos de sus clientes y no cuenta con un capital suficiente en el momento, Jose busca un préstamo para comprar insumos y materias primas que requiere para fabricar grandes pedidos que tiene de sus clientes.
De esta manera podrá responder a sus clientes y así seguirá creciendo con su negocio, permitiendo tener en su hogar mejores ingresos con los que podrán tener una mejor calidad de vida y una mejor estabilidad económica en el hogar.
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.