Jorge began working when he was 14 years old as an assistant in a mini market and this is how he was able to learn the trade. He then worked in a cafeteria for 4 years and during this time, he began to save as much as he could so that he could one day be independent. Four months ago, he was able to achieve this goal and has had good customers since.By working hard, he has been able to overcome the difficulties of not having enough capital. Because he wants to offer a wider variety of vegetables to his customers, as they have asked, he believes his sales will increase considerably. Jorge is looking for a loan in order to purchase shelving and vegetables and fruits to stock his business and offer a wider selection. His dream is to be successful in his own business and to grow it enough to generate employment and in the future open his own mini market.
Jorge comenzó trabajando desde los 14 años de edad como ayudante en un minimercado y así aprendió la actividad de los negocios y la venta de alimentos. Luego trabajó en una cafetería durante 4 años y durante estos años ahorró lo que más podía porque su meta fue siempre ser independiente. Hace 4 meses logró montar su propia legumbrería y ha tenido buenos clientes en el sector, y trabajando fuertemente ha logrado venir superando la dificultad de capital que tiene. Debido que al ofrecer más variedad de verduras que sus clientes han demandado sus ventas aumentarán considerablemente, Jorge busca un préstamo para comprar una estantería y verduras y frutas para surtir su negocio y ofrecer mayor variedad.
Su sueño es poder salir adelante con su propio negocio y crecer para generar empleo y en un futuro abrir su propio minimercado.
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.