Javier worked for many years as a street vendor, selling fruits and vegetables in the market square of his town. After this, and seeking better financial opportunities, he started to work as a truck driver for the merchants in the market square.
Some time ago, thanks to the fact that a wonderful opportunity presented itself, he set up a hotel where mainly there had been a restaurant. With a great deal of effort, he fixed it up in such a way that now he can provide accommodation, mainly to truck drivers in the market square.
It is thanks to this business he has been getting in life. His wife and his two children have been able to have a better quality of life, and this is why he continues striving to keep his business going.
In order to be able to provide a better service in his hotel, Javier needs a loan to build a new bathroom, so that he can provide better service to his hotel guests.
His dream is to be able to keep this business going and see it progress; and for this to allow him to offer his family an increasingly better quality of life.
Javier hace muchos años trabajaba como vendedor ambulante de frutas y verduras en la plaza de mercado de su municipio; después de esto buscando mejores oportunidades económicas comenzó a trabajar como transportador para los comerciantes de la plaza de mercado; y hace un tiempo, gracias a que se le presentó una magnífica oportunidad, montó un hotel donde principalmente era un restaurante y con un gran esfuerzo lo adecuó de manera que ahora puede prestar el servicio de hospedaje principalmente a transportadores de la plaza de mercado. Gracias a este negocio que ha venido sacando adelante, su esposa y sus 2 hijos han podido tener una mejor calidad de vida y por esto sigue luchando para sacarlo adelante. Para poder ofrecer un mejor servicio en su hotel, Javier necesita un préstamo para construir un nuevo baño y así poder tener mejor servicio para los huéspedes de su hotel.
Su sueño es poder sacar adelante este negocio, hacerlo progresar y que este le permita ofrecerle a su familia cada vez una mejor calidad de vida.
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.