The winter season always presents greater difficulty because the presence of rain reduces his sales considerably. For this reason, Robinson seeks to improve the situation by requesting a loan so that he can buy fruits and vegetables to restock his business. This will enable him to recover from lost sales during the difficult winter season.
His dream is to move his business forward. In the future, he hopes to establish a supermarket where he can provide jobs and generate more income for his family.
Su sueño es sacar adelante este negocio y en un futuro llegar a montar un supermercado donde pueda generar empleo y donde pueda tener mejores ingresos para su familia.
Important InformationThis 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.
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