Noe has always been a very hardworking person, and thanks to that he has been able to get himself, his wife and his 10 children ahead. However, some time ago he became unemployed and because he needed an income to support his household expenses, he decided to set up his own business in his house. With a lot of hard work, he started a business making fruit pulp, which he sells among his neighbors and acquaintances. In addition, he sells wafers at the front door of his house, which increases his profits so that he can continue to provide an education for his children. Thanks to the high quality of his products and the charisma he's always been known for, he succeeded in getting a large number of customers for his business. Now he has an opportunity to keep on diversifying his income sources, and he seeks a loan in order to purchase a food cart to sell fried foods outside his home. That way he'll increase his profits so he can continue to provide a college education for his children.
By doing that, he'll overcome financial difficulties in his business and get ahead along with his family. Besides, he'll be able to improve his living conditions and his opportunities to make economic progress.
Noe es una persona que siempre ha sido muy trabajadora y gracias a esto ha podido salir adelante con su esposa y sus 10 hijos, pero hace un tiempo se quedó sin empleo y debido a la necesidad de generar los ingresos para sostener los gastos en su hogar decidió montar su propio negocio desde su casa. Con mucho esfuerzo inició una elaboración de pulpas de frutas las cuales comercializa entre sus vecinos y conocidos; adicionalmente tiene en la puerta de su casa una venta obleas que hacen que sus ingresos se incrementen y así pueda seguir brindándoles estudio a sus hijos. Gracias a la buena calidad de sus productos y el carisma que siempre lo ha caracterizado, ha logrado captar un gran número de clientes para su negocio, y ahora que tiene la oportunidad de seguir diversificando sus ingresos busca un préstamo para comprar un carrito de comidas para vender fritos afuera de su casa y aumentar sus ingresos para seguir ofreciendo educación universitaria a sus hijos.
De esta manera superará la dificultad de capital en su negocio y así saldrá adelante con su familia. Además, podrá tener 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.