Carlos is a very hardworking person who has succeeded in developing his own business despite the great difficulties life has presented him. Some time ago he became unemployed with no source of income to support his household where he lives with his wife and six children. Seeking a source of income for his home he found the way of setting up his own business selling clothes and personal use items.
For some time now he’s had his own business and his family’s quality of life has improved considerably. Thanks to the good sales the business has his wife has to help him sometimes with it. Carlos is looking for a loan to buy personal use products that he’s been running out of thanks to his sales. His dream is that the business continues to grow and continues allowing him to provide his six children and his wife with a good quality of life and better economic opportunities for progress.
Carlos es una persona muy trabajadora que ha logrado levantar su propio negocio a pesar de las grandes dificultades que se le han presentado en la vida. Desde hace un tiempo se quedó sin empleo y así sin fuente de ingresos para el sostenimiento de los gastos de su hogar donde convive con su esposa y sus 6 hijos, y en busca de la fuente de ingresos para su hogar encontró la manera de montar su propio negocio de venta de prendas de vestir y artículos de uso personal. Desde hace un tiempo tiene su propio negocio y la calidad de vida de su familia ha mejorado considerablemente, y gracias a las buenas ventas que tiene a veces su esposa le debe colaborar con la atención del negocio. Como no cuenta con un gran capital para surtir su negocio, Carlos busca un préstamo para comprar productos de uso personal que se han venido agotando gracias a sus ventas.
Su sueño es que su negocio siga creciendo y le siga permitiendo brindarles a sus 6 hijos y su esposa una buena 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.