Remigio has a general store with which he generates the income he needs for his home to meet his family's needs. He opened his business not long ago. Despite starting with very low capital, his daily efforts with long work hours have allowed him to get this business ahead and improve his household's quality of life. Tthe big difficulty he has now is that his wife is pregnant and this has caused the household expenses to increase considerably. That is why he is seeking to increase his sales. Remigio is asking for a loan to buy basic family basket products and stock his business more.
His dream is to have financial stability that will allow him to meet his household's needs. Also, he wants his wife to have a better quality of life and for his future child to have all his or her needs fulfilled.
Remigio tiene una tienda general con la que genera los ingresos que requiere en su hogar para satisfacer las necesidades de su familia. El negocio lo montó no hace mucho tiempo, y pese a que fue iniciado con muy bajo capital, su esfuerzo diario con largas jornadas de trabajo le han permitido sacar este negocio adelante y mejorar la calidad de vida en su hogar. La gran dificultad que tiene actualmente es que su esposa se encuentra en embarazo y esto ha hecho que los gastos del hogar se aumenten considerablemente; es por esto que buscando aumentar sus ventas Remigio busca un préstamo para comprar productos de la canasta familiar y surtir más su negocio.
Su sueño es poder lograr una estabilidad económica que le permita suplir todas las necesidades que tiene en el hogar, así su esposa pueda tener una mejor calidad de vida y su futuro hijo todas las necesidades satisfechas.
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.