Jaime used to work at a butcher shop but he wanted to become independent. He saved his money for seven years and set up his own business with only a little capital. Through work he has been able to get ahead and overcome his difficulties. Thanks to his sales volume he now has the opportunity to offer more products to his customers. Therefore, Jaime is requesting a loan to buy a sausage machine and renovate some of the electric installation at his butcher shop.
His dream is to make the business successful and continue progressing with his family, offering them a better quality of life and economic opportunities.
Jaime anteriormente trabajaba en una carnicería y como su sueño era poder trabajar de manera independiente, ahorró durante 7 años y hace un tiempo montó su propio negocio el cual a pesar de no montarlo con mucho capital, con su esfuerzo lo ha sacado adelante y esto le ha permitido salir adelante y superando las dificultades. Gracias a las ventas que ha tenido, ahora tiene la posibilidad de ofrecer más productos a sus clientes, y es por esto que Jaime busca un préstamo para comprar una máquina para fabricar chorizos y también realizar algunas adecuaciones eléctricas en la carnicería.
Su sueño es poder sacar este negocio adelante y continuar progresando con su familia, ofreciéndoles una mejor calidad de vida y mejores oportunidades económicas.
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.