Jairo worked most of his life in construction, but due to his age couldn't continue in it. That is why he decided to seek and alternative to generate income for his home. That is how he started a general store with some small savings and started to work on his own with better working conditions. Despite not having a lot of money to stock his store, his hard work has allowed him to get his store ahead little by little and generate the income his home needs, where he lives with his wife and 9 children.To improve his sales, Jairo has asked for a loan to buy basic family products and stock his business to offer a wider variety of products to his customers as well as replace some tables and chairs in the business.
His dream is to get his business ahead and improve his family's quality of life, increasing his income to have more financial stability.
Jairo trabajó durante casi toda su vida en la actividad de la construcción, pero ya por su edad no podía seguir trabajando en esto y por eso decidió buscar una alternativa diferente para generar los ingresos del hogar. Fue así como inició una tienda general con unos pequeños ahorros y comenzó a trabajar por su propia cuenta y con mejores condiciones laborales. Pese a que no tenía mucho dinero para surtir la tienda, su esfuerzo le ha permitido ir poco a poco sacando el negocio adelante y así genera los ingresos que necesita en su hogar donde convive con su esposa y algunos de sus 9 hijos. Para mejorar sus ventas, Jairo acude a un préstamo para comprar productos de la canasta familiar y surtir su negocio para ofrecer mayor variedad de productos a sus clientes, también para renovar algunas mesas y sillas de la tienda.
Su sueño es poder sacar este negocio adelante y mejorar la calidad de vida del hogar, aumentando sus ingresos para tener una mejor estabilidad económica.
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.
A loan of $1,125 helped Jairo De Jesus to buy basic family basket products and stock his business to offer a wider variety of products to his customers, as well as replace some tables and chairs in the store.