Gerardo is a very hardworking person who struggles mightily to be able to move his family forward and offer them a better quality of life. He’s had a general store for some time now where he offers his customers basic staples thus generating income needed to cover expenses at home where he lives with his wife and three children.
Because a few months ago he had a serious health problem his business remained closed for a long time but now that he’s recovered he can once again start to generate household income. Gerardo is looking for financing to buy basic staples to stock his store because he has very little available inventory.
In this way, Gerardo will be able to overcome the great economic difficulty his family currently has because he hadn’t been able to generate income for some time. His dream is to be able to have better quality of life for his family and better opportunities to make economic progress.
Gerardo es una persona muy trabajadora que ha luchador fuertemente para poder sacar su familia adelante y ofrecerles una buena calidad de vida. Desde hace mucho tiempo tiene una tienda general donde ofrece a sus clientes productos de la canasta familiar, y de esta manera genera los ingresos que requiere para el sostenimiento de los gastos en su hogar donde convive con su esposa y sus 3 hijos. Debido a que hace unos meses tuvo un gran problema de salud, su negocio se quedó sin abrir durante un gran tiempo, pero ahora que se ha recuperado y tiene la oportunidad de generar nuevamente los ingresos para su hogar, Gerardo busca un préstamo para comprar productos de la canasta familiar y surtir su tienda que tiene muy poco inventario.
De esta manera Gerardo espera poder superar la gran dificultad económica que tiene actualmente su familia, pues no había quién generara ingresos durante un tiempo. Su sueño es poder es tener una mejor calidad de vida para su familia 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.