Cristian is a hardworking 20 year-old young man who started his business selling clothing 8 months ago, with the goal of obtaining the resources to pay for his university studies. Since he comes from a family of limited economic means, he was obligated to find work so that he will be able to earn his own income and in this way hope to be able to save enough money to pay the university.
Thanks to the fact that he knows a lot of people, his neighbors, relatives and friends, Cristian’s sales have been very good. Nevertheless, because he does not have much capital he is not able to fulfill orders that overwhelm his economic capacity to stock his business. Consequently, he is looking for a loan to purchase clothing and fill the large orders he has from his customers.
Cristian’s greatest dream is for his business to succeed and someday to own his own place where he can sell clothing. As well, he dreams of providing his parents a better quality of life and of being able to pay for his university studies.
Cristian es un joven emprendedor de 20 años de edad que desde hace 8 meses comenzó su negocio de venta de prendas de vestir con el ánimo de conseguir los recursos económicos para pagar sus estudios universitarios. Debido a que proviene de una familia con escasos recursos económicos, se vio obligado a tener que trabajar para poder hacerse sus propios ingresos, y de esta manera espera poder tener el dinero suficiente para pagar su universidad. Gracias a que conoce muchas personas entre vecinos, familiares y amigos, sus ventas han logrado ser muy buenas, pero debido a que no cuenta con un gran capital no puede responder a pedidos que superen su capacidad económica para surtir el negocio. Es por esto que busca un préstamo para comprar ropa y responder a los grandes pedidos que tiene por parte de sus clientes.
Su mayor sueño es salir adelante con su negocio y algún día tener su propio local para ofrecer la ropa. Además, sueña con ofrecerle a sus padres una mejor calidad de vida y poderse pagar los estudios universitarios.
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.