Arley’s married and has two children who are 3 and 12 years of age and to generate income needed in his home he has a general store where he sells basic staples and snacks. Arley has several years’ experience in this activity and thanks to this experience decided four years ago to open his own business in order to improve his family’s economic condition.
His main strength is the experienced he has in this activity but his main weakness is the physical condition of his shop which is why he’s looking for financing to make improvements to his shop and improve its conditions to increase his sales. His dream is to move the business forward so that it will make it possible for him to provide his children with better quality of life and access to a better quality education.
Arley se encuentra casado y tiene 2 hijos de 3 y 12 años de edad, y para generar los ingresos que se requieren en su hogar tiene una tienda general donde ofrece productos de la canasta familiar y snack. Arley tiene experiencia de varios años en la actividad y gracias a esta experiencia ha decido montar desde hace unos 4 años su propio negocio para poder mejorar las condiciones económicas de su hogar. Su principal fortaleza es la experiencia que tiene en la actividad, pero su debilidad principal son las condiciones locativas de su negocio, es por esto que busca un préstamo para realizar mejoras locativas a su negocio y mejorar las condiciones para aumentar sus ventas.
Su sueño es sacar este negocio adelante y que le permita para poder ofrecerles a sus hijos una mejor calidad de vida y el acceso a una educación de mejor calidad.
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.