Adrian is 28 years old, is married and has three children who are underage, most of his life was dedicated to picking coffee in different departments in Colombia. His family was worried as he was displaced from place to place without knowing what troubles he would face day to day, that is why they decided to support him to set up a convenience store and supplying him with the starting capital and lending him a garage. Adrian started his business and with it he has been able to support his family. He hopes to have a loan to stock his business and make improvements to the store to increase his income and give his children a better education and quality of life. Adrian’s biggest dream is to see his family happy without any financial difficulties.
Adrian de 28 años es casado y tiene tres hijos menores de edad, la mayor parte de su vida se dedicó a la recolección de café en diferentes departamentos de Colombia. Su familia preocupada por la situación de desplazarse de un lugar para otro sin saber que necesidades le tocaba afrontar en el día a día, decidieron apoyarlo para que montara un granero, suministrándole el capital inicial y prestándole un garaje. Adrian montó su negocio y con él ha podido sostener a su familia. Desea poder adquirir un préstamo para comprar surtido y realizar mejoras locativas, con el fin de generar ingresos y darles a sus hijos educación y una mejor calidad de vida. Su mayor sueño es poder ver a su familia feliz sin carencias 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.