John Edilson is a great fighter who looks for how to earn his daily bread for him and his family. He is 39 and his daughter is 14. His dream is to offer her a good education. He never had the opportunity to study because of his difficult situation since he was a boy.
“My love and the desire to see my daughter become a professional are what motivate me to go every day to the city center where I earn a living selling potato chips.” These are the words that John used to describe his daily motivation.
Presently he needs to make adjustments to the potato cart and purchase raw materials to increase his sales. He is requesting a loan since he does not have enough resources by himself to make this investment in his business.
Jhon Edilson es un gran guerrero que busca la forma de ganarse el pan de cada día para él y su familia. Tienes 39 años de edad y una hija de 14, a la que sueña poderle brindar la educación a la que él no tuvo oportunidad por su difícil situación desde que era niño. “El amor y las ganas de ver a mi hija como una profesional son las que me motivan a desplazarme todos los días al centro de la ciudad en donde me gano la vida vendiendo papas fritas” estas son las palabras con las que Jhon describe su motivación diaria. Su necesidad en este momento es adecuar el carro de papas y comprar materia prima para incrementar sus ventas, por lo cual solicita crédito ya que no posee los recursos propios para realizarle esta inversión al negocio.
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.