Gerardo worked for several years for a security company. However, due to the separation from the mother of his two children, he felt obliged to leave his work in order to be able to take care of his children.
He needed to find work or generate income for his household, and a friend helped him establish a stand in the center of the city. He has been there for 11 years selling personal use products. Thanks to this business, he generates the income needed for his household in order to provide his two children with a better quality of life.
Gerardo needs to increase his sales in order to be able to have better income. One of his children is very ill, and he has not been able to have access to health care. That is why he is looking for a loan to buy personal use products and to offer his customers a greater variety of products. He wants to increase sales in order to be able to provide his son with health care.
His dream is to have a better business that continues to grow. In the future he dreams of being in a place and generating employment for those who need it the most. He also aspires to give his two children a better education and a better quality of life at home.
Hace varios años Gerardo trabajaba en una empresa de vigilancia, pero debido a la separación de la madre de sus 2 hijos, se vio obligado a dejar su trabajo para poder cuidar de sus hijos. Con la necesidad de conseguir un empleo o generar ingresos para su hogar, un amigo suyo le ayudó para ubicarse en un puesto del centro de la ciudad donde ya lleva unos 11 años vendiendo productos de uso personal, y gracias a este negocio genera los ingresos que requiere en su hogar para ofrecer una buena calidad de vida a sus 2 hijos. Gerardo necesita aumentar sus ventas para poder tener mejores ingresos, pues uno de sus hijos se encuentra muy enfermo y no ha podido tener acceso a la salud, por esto es que busca un préstamo para comprar productos de uso personal y ofrecer mayor variedad de productos a sus clientes y aumentar sus ventas, para poder ofrecerle la salud a su hijo.
Su sueño es tener un mejor negocio, cada vez más grande y en un futuro ubicarse dentro de un local para generar empleo para las personas más necesitadas. También aspira a ofrecerle a sus 2 hijos una mejor educación y una mejor calidad de vida en el hogar.
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.