Hever has known about running stores for the last 25 years since he lived in the city of Medellín and had a general store; that’s where he met his wife. They had the store in the city for a long time but due to a great problem that was beyond their control they were forced to leave the city and move to the town they currently live in. They settled there and are now opening a store once more but don’t have enough capital to do so which is why Hever is looking for financing to buy basic staples to stock the general store he’s just now getting started. Hever hopes to move this store forward and to work together with his wife to provide their six children with a dignified life and access to a good quality education.
Hever conoce los negocios de la tienda general desde hace más de 25 años cuando vivía en la ciudad de Medellín y allí tenía una tienda general, en la cual se conoció con su actual esposa. Con la tienda en la ciudad duraron mucho tiempo, pero debido a una gran dificultad ajena a su voluntad se vieron en la obligación de dejar la ciudad y se fueron a vivir al municipio donde actualmente residen. Allí se ubicaron y ahora están montando nuevamente una tienda general, pero como no cuentan con el capital suficiente para esto, Hever busca un préstamo para comprar productos de la canasta familiar y surtir la tienda general que apenas están iniciando.
Hever espera poder sacar este negocio adelante y poder con este trabajar junto a su esposa y brindarles a sus 6 hijos una calidad de vida digna y el acceso a una educación escolar de buena 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.