Jesús Antonio is 63 years old and is a man full of strength and hope. Due to a difficult financial situation, he saw the need to build a stand where he sells sweets. This allows him to earn a living. His life has been marked with events that have left great aftermaths. His wife left him when the financial situation in his home worsened. Full of doubt he decided to sell to rebuild his future and have a better one.
He decided to ask for this loan to buy candy and tools of his trade so that he can improve his financial situation and get ahead. His greatest desire is to have a dignified life and spend his old age without needs.
Jesús Antonio de 63 años de edad, es un hombre lleno de fortaleza y esperanza. Tras una difícil situación económica se vio en la necesidad de construir un puesto de madera en donde vende dulces. Actividad que le permite subsistir. Su vida se ha visto marcada por acontecimientos que le han dejado grandes secuelas. Su esposa lo abandonó cuando la situación económica empeoró en su hogar, lleno de deudas y solo decidió comenzar y reconstruir su presente para tener un mejor futuro. Debido a esto se encuentra solicitando un crédito el cual espera invertir en la compra de dulces y mecatos de su negocio, con el propósito de mejorar su condición económica y salir adelante. Su mayor anhelo es poder tener una vida digna y pasar su vejez sin necesidades.
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.