Ramón has worked for seven years selling fruit and vegetables and with this business he generates income required at home to support the expenses of his wife and their three children who are 14, 16, and 19 years old. Previously he worked at a company but, since his salary wasn't enough to pay the bills, he decided to look for a better source of income and it was in this way that he started his business. Although with this sale of fruit and vegetables the economic condition at home has improved, he still faces large financial difficulties which he is trying to overcome gradually by working hard to achieve. Ramón is looking for a loan that allows him to buy stock of fruit and vegetables and to offer his customers a greater variety of products.
His dream is to be able to provide a better quality of life to his family than what they have now and offer his three children access to a university education.
Ramón trabaja desde hace 7 años vendiendo frutas y verduras y con este negocio genera los ingresos que requiere en su hogar para sostener los gastos de su esposa y sus 3 hijos de 14, 16 y 19 años de edad. Anteriormente trabajaba en una empresa pero debido a que su salario no le alcanzaba para sostener los gastos de su hogar, decidió busca una mejor fuente de ingresos y fue así como montó su negocio. A pesar de que con esta venta de frutas y verduras la condición económica en su hogar ha mejorado, aún presenta grandes dificultades económicas que busca superar poco a poco trabajando fuertemente, y para lograrlo, Ramón busca un préstamo que le permita comprar surtido de frutas y verduras y ofrecer a sus clientes mayor variedad de productos.
Su sueño es poderle brindar a su familia una mejor calidad de vida que la que tienen actualmente y ofrecerles a sus 3 hijos el acceso aun educación universitaria.
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.