"There are people who are anxious about insignificant problems, while others are hopeful to see a better tomorrow despite their circumstances." With this quote, Rubén began telling us about his biggest difficulty in life. He was born and grew up in the municipality of Antioquia, from where he was displaced because of violence. He had to leave his hometown, and went to the city in search of job opportunities. When he didn't find formal work, he began selling fruit from a cart which he was provided with. Thanks to the profit he made in this way, he was able to set up a business in the city center selling glasses and other things. He is requesting a loan right now to use to buy merchandise for the Christmas season.
“existen personas que se afligen por insignificancias cuando existen otras que esperan ver un mejor mañana a pesar de sus circunstancias” Con esta frase don Rubén comienza a relatarnos su mayor dificultad en la vida. Nació y vivió hasta su juventud en un municipio de Antioquia, en donde fue desplazado por la violencia. Obligado a salir de su pueblo se dirigió a la ciudad en búsqueda de una oportunidad laboral, tras no encontrarla, se dedicó a la venta de fruta en una carreta que le facilitaron. Gracias a este medio de sostenimiento colocó en el centro de la ciudad un puesto de trabajo en donde comercializa gafas y otros enseres. En la actualidad solicita un crédito para la compra de artículos para la temporada navideña.
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.