Luis is a real fighter who made a great effort to get his fruit and vegetables selling business ahead. He buys his range of fruit and vegetables in bulk in a rural area of his municipality and then he distributes them in small quantities from house to house, in restaurants and shops. The great difficulty that Luis faces is that his mode of transportation is a bicycle, but lately he has had an increase in the distribution of his products and has had to pay a motorcycle taxi service to deliver his customers' orders. This has increased his costs considerably. To improve this situation Luis is looking for a loan in order to buy a motorbike with which he can distribute his fruit and vegetables all around the municipality.
His dream is to have a large business with a well stocked store in his municipality and to be able to offer a become income to his family.
Luis es una persona muy luchadora que con gran esfuerzo ha venido sacando su negocio de venta de frutas y verduras adelante. El surtido de frutas y verduras lo compra en grandes bultos en la zona rural de su municipio, y luego en el municipio los distribuye en pequeñas cantidades por las casas, restaurantes y tiendas. La gran dificultad que Luis presenta es que su medio de transporte es una bicicleta, pero últimamente ha tenido bastante distribución de su producto, teniendo que recurrir a pagar un transporte en moto para poder entregar los pedidos de sus clientes, y esto ha hecho que sus costos se eleven considerablemente. Para mejorar esta situación, Luis busca un préstamo para comprar una moto con la que pueda hacer la distribución de sus frutas y verduras en todo su municipio.
Su sueño es llegar a tener un gran negocio con un local bien dotado en su municipio y poder ofrecer mejores 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.