Nelson is very hard working and this quality has allowed him to overcome great adversities which have presented themselves in his life. Presently he is a single father of two children, aged 7 and 13. He has always wanted to offer them a good quality of life but economic difficulties have not allowed him to do so. In order to generate necessary income for his household Nelson has a fruit and vegetable stall where has has worked for the past 10 years, which has managed to locate in a government assigned place. From here he has worked hard and is now making good sales. Nelson is looking for a loan to buy a variety of fruit and vegetables in order to respond to his customers demands.
His dream is to continue working in this activity and that his business allows him to offer his two children access to a better education and to have a better quality of life at home.
Nelson es muy trabajador y esta cualidad le ha permitido superar grandes adversidades que se le han presentado en la vida. Actualmente es padre soltero de sus 2 hijos de 7 y 13 años de edad a quienes siempre les ha querido brindar una buena calidad de vida, pero las dificultades económicas no se lo han podido permitir. Para generar los ingresos que requiere en su hogar, Nelson tiene una venta de frutas y verduras la cual trabaja desde hace unos 10 años que se logró ubicar en un lugar que le asignaron con ayuda del gobierno. Desde este lugar ha venido trabajando fuertemente y ahora que está teniendo buenas ventas, Nelson busca un préstamo para comprar surtido de frutas y verduras para poder responder a la demanda de sus clientes.
Su sueño es poder continuar trabajando en esta actividad y que su negocio le permita ofrecerle a sus 2 hijos el acceso a una mejor educación y tener una mejor calidad de vida en el hogar.
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.