Luis started work as a help to his uncle, who ran a business raising chickens and selling their eggs. Working by his uncle's side, he gradually got to know the customers. When his uncle stepped down from the business, Luis bought it from him and for approximately 5 years he has had his own business selling eggs and raising chickens. Owing to this, his wife and his 3 children now have a better quality of life and better economic opportunities for progress. Luis' hard work in the business has paid off and, despite not having much capital to invest in improving the business, his level of sales has been growing considerably. Consequently, Luis is now looking for a loan to adapt the chicken run, which will allow him to increase the size of his flock so that he can continue to grow his business.
This will allow him to overcome his lack of capital and his business will continue to be a success; it will continue to grow and his family will continue to make progress.
Luis comenzó a trabajar como ayudante de un tío suyo que tenía una cría de pollos y venta de huevos; a su lado aprendió la actividad y poco a poco fue conociendo los clientes del negocio. Cuando su tío dejó de lado la actividad Luis le compró el negocio y así desde hace aproximadamente 5 años trabaja con su propio negocio de venta de huevos y cría de pollos. Gracias a esta actividad su esposa y sus 3 hijos han logrado tener una mejor calidad de vida y mejores oportunidades económicas para salir adelante. Con mucho esfuerzo ha venido pagando el negocio, y debido a que no cuenta con mucho capital no ha logrado realizar algunas mejoras en el negocio; pero ahora que sus ventas vienen creciendo considerablemente, Luis busca un préstamo para adecuar el corral de gallinas de modo que pueda aumentar la cantidad de gallinas que cría y así seguir creciendo con el negocio.
De esta manera superará la dificultad de capital y su negocio saldrá adelante, continuará creciendo y su familia seguirá 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.