Leandro began his business of selling sports apparel some time ago with very little capital, but thanks to his efforts, he has been able to advance his business little by little and improve the income with which he sustains his household. He has always liked this activity, and therefore his business is going well for him, since he is very passionate and thus works long days in the store where he sells his products. Because the end-of-year season, when his sales increase considerably, is approaching, Leandro is seeking a loan to buy sports apparel to stock his business for the end-of-year season.
His dream is to have a big business where he can generate employment for the neediest people in his town.
Leandro comenzó con su negocio de venta de ropa deportiva desde hace un tiempo con muy poco capital, pero gracias a su esfuerzo ha podido ir poco a poco sacando el negocio adelante y mejorando los ingresos con los que sostiene su hogar. La actividad siempre le ha gustado y por esto le va bien en su negocio, pues es muy apasionado y así trabaja extensas jornadas laborales en el almacén donde vende sus productos. Gracias a que se acerca la temporada de fin de año, donde sus ventas se incrementan considerablemente, Leandro busca un préstamo para comprar ropa deportiva y surtir su negocio para la temporada de fin de año.
Su sueño es llegar a tener un gran negocio donde pueda generar empleo para las personas más necesitadas de su municipio.
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.