David Alonso, age 27, is a young entrepreneur. He wishes to be able to give his family a better quality of life.
He currently works as a “mototaxi” [three wheeled motorized vehicle] driver in the Támesis municipality. However, his income is not enough to support his wife, child, and sisters. He wishes to set up his own business by taking advantage of a family plot of land to raise pigs and chickens.
That is why he is requesting a loan to buy pigs and chickens, to build corrals, concentrated feed, and provide for the animals’ care. David hopes that his income will improve with this new business activity. He also hopes that his wife will fulfill her dream of having a beauty parlor. This would also help with the household expenses and improve the family’s financial condition.
David Alonso de 27 años de edad es un joven emprendedor que desea poderle ofrecer a su familia una mejor calidad de vida. En la actualidad labora como mototaxista en el municipio de Támesis pero sus ingresos son insuficientes para sostener a su esposa, hijo y hermanas, desea emprender su propio negocio aprovechando un lote de su familia para la cría de cerdos y pollos. Por esta razón se encuentra solicitando un crédito que invertirá en la compra de cerdos, pollos, construcción de corrales, cuido y concentrado. David espera que con esta nueva actividad sus ingresos mejoren y pueda cumplirle el sueño a su esposa de tener una peluquería, la cual también ayudaría con los gastos del hogar y mejoraría la condición económica de la 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.