José’s married and has a son in his care. In order to generate income his family needs he’s searched through various businesses looking for the economic stability he needs. He’s currently selling popcorn and other sweets from a little cart that’s in pretty bad shape but he does not have sufficient capital to repair it which is why José is looking for financing to repair his popcorn cart and offer his customers better quality products.
In addition to this, his business would have an improved appearance which will lead to the number of his customers increasing considerably. His dream is to move is family forward offering them improved quality of life and better economic opportunities for progress.
Jose se encuentra casado, tiene un hijo por quien velar y para generar los ingresos que requiere en su familia ha buscado por diferentes negocios la estabilidad económica que requiere. Actualmente se encuentra vendiendo popcorn y otros dulces en un carrito, el cual se encuentra en muy mal estado, y debido a que no cuenta con el capital suficiente para repararlo, Jose busca un préstamo para reparar el carrito donde prepara el popcorn y así ofrecer a sus clientes productos de mejor calidad.
Además de esto tendrá la posibilidad de tener un negocio con mejor apariencia física, lo que hace que sus clientes aumenten considerablemente. Su sueño es sacar su familia adelante ofreciéndoles una buena calidad de vida 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.