Luis Alfredo is 55 years old and he has a 12-year-old son. All of his life he has been engaged in different activities in order to earn the money for his family and to grant them their staple food. Seven months ago he decided to invest his savings in the purchase of cakes and sweets that he sells from a room of his house. He has come up with this job idea because his severe backache prevents him from engaging in heavy jobs. Luis hopes that his new project will grant him a goof income as this is the only source of income he has to provide for himself and his family. By observing his neighbors and taking their advice Luis has decided to ask for a loan to buy pulse, as no one else in his area sells this type of product.
He dreams of being able to grant a better standard of living to his family and to make improvements to his house, as the rain has destroyed it many times because his house has not been built with waterproof materials.
Luis Alfredo de 55 años, está casado y es padre de un hijo de 12 años de edad. Toda su vida se ha dedicado a laborar en oficios varios a fin de conseguir el alimento y el dinero para sostener su hogar. Hace siete meses decidió invertir sus ahorros en la compra de mecatos y dulces los cuales vende desde la sala de su casa. Esta idea de negocio surgió debido a los fuertes dolores de columna que le impidieron seguir laborando en oficios pesados. Luis espera que su nuevo proyecto le genere buenas ganancias porque es su única fuente de sostenimiento para el y su familia. Según observaciones y por sugerencia se sus vecinos don Luis se encuentra solicitando un crédito para la compra de legumbre, ya que en el sector no hay nadie que preste este servicio.
Sueña con poder ofrecerle a su familia una mejor calidad de vida y adecuar su vivienda, ya que la lluvia en muchas ocasiones la ha destruido por el material en la que se encuentra Construida.
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.