Jorge is a young entrepreneur who has worked hard from a young age learning the trade of selling sweets from a street stall from his father. With this business, he now has the opportunity to generate the income necessary to sustain his mother and wife.
His wife sometimes works with him when he has many customers.
The greatest difficulties he faces has always and primarily been money. For this reason, he is requesting a loan to purchase sweets and snacks in order to provide a greater variety to his customers.
His dream is to be able to improve this business and have his own store so he can increase sales and, consequently, his income for his family.
Jorge es un joven emprendedor que ha trabajado fuertemente desde muy pequeño con su padre aprendiendo el oficio de la venta de dulces en un puesto que tienen en la calle. Con este negocio ahora tiene la oportunidad de generar los ingresos que necesita en su hogar para sostener a su madre y también a su esposa, quien a veces le colabora en el negocio cuando tiene muchos clientes. Las grandes dificultades que se le han presentado siempre en su negocio han sido principalmente de capital, y es por esto que ahora busca un préstamo para comprar dulces y snack y así mejorar el surtido que ofrece a sus clientes.
Su sueño es poder mejorar este negocio y ubicarse dentro de un local donde pueda mejorar las ventas y por ende los ingresos para su familia.
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.