Germán Darío, 46, is a man characterized by being a fighter and confronting any challenge life gives him. After being left unemployed, he was forced to look for a new way to make his daily bread. He decided to sell clothing and silver accessories to his family and friends. Currently he envisions an expanding business and is requesting a loan to buy a motorcycle to take him to areas located further away in order to increase sales and generate more income for his household. His big dream is to improve his quality of life and offer his family a better economic situation.
Germán Darío de 46 años de edad, es un hombre que se ha caracterizado por ser un luchador y enfrentarse a cualquier reto que la vida le ponga. Tras haberse quedado sin empleo se vio en la necesidad de rebuscarse el pan de cada día, decidió dedicarse a la venta de ropa y accesorios de plata a sus amigos y familiares. Hoy visiona su negocio más grande, por lo cual se encuentra solicitando un crédito para la compra de una motocicleta que le permita desplazarse a lugares más retirados con el fin de ampliar sus ventas y generar mayores ingresos para el sostenimiento del hogar. Su gran sueño es poder mejorar su calidad de vida y ofrecerle a su familia mejores condiciones económicas.
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.