Rodrigo has always worked selling merchandise and products in the street. Two years ago he got the opportunity of installing himself in a stand and this is how he started his grocery store. Despite not having much capital, his effort has always made it possible for him to gradually overcome the difficulties that have arisen and because of this he’s been able to get ahead and offer his home a better quality of life every day.
At present, the roof of his store is damaged which is why he’s looking for a loan to repair it and also to buy assorted merchandise stock the store and improve sales. In this way he hopes to be able to improve household income to offer better quality of life and improved economic opportunities for making progress. His dream is to have a more spacious locale in order to stock more products and increase sales.
Rodrigo siempre ha trabajado vendiendo mercancías y productos en la calle, y desde hace 2 años se le presentó la oportunidad de ubicarse en una chaza y fue así como comenzó con su negocio de tienda de comestibles. A pesar de no contar con un gran capital, su esfuerzo siempre le ha permitido ir superando poco a poco las dificultades que se le presentan, y por esto ha podido salir adelante y ofrecer en su hogar cada vez una mejor calidad de vida. Actualmente en su negocio tiene el techo averiado, y por esto busca un préstamo para reparar el techo de su negocio y comprar surtido para mejorar sus ventas.
De esta manera espera que pueda mejorar los ingresos para su hogar y pueda ofrecer en su hogar una mejor calidad de vida y mayores oportunidades económicas para salir adelante. Su sueño es tener un local más amplio para ofrecer más productos e incrementar sus ventas.
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.