59-year-old Dairo is noted for having successfully overcome any adverse situations he has faced in life. After finding himself unemployed, with two children to support, he decided to look for a source of work which would allow him to make progress in life and make the income he needed to support his household. He installed some shelving units in a space in his home and set up his own neighborhood fruit and veg store. This business has allowed him to provide his children with an education and his family with a better quality of life. Dairo's biggest challenge is expanding his product offerings. He believes this to be the only way to increase his profits. For this reason, he is requesting a loan to buy baskets, to make some structural improvements and to buy more products to sell. His biggest dream is to have his family enjoy greater financial security.
Darío de 59 años de edad se ha caracterizado por sobresalir ante las situaciones adversas a las que lo ha expuesto la vida. Tras haberse quedado sin empleo y con dos hijos que sostener decidió buscar una fuente de empleo que le permitiera salir adelante y generar los ingresos necesarios para sostener su hogar. Instaló estanterías en un espacio de su vivienda y montó su puesto de legumbres y frutas para comercializar en su sector. Esta actividad le ha dado la oportunidad de brindarle a sus hijos educación y una mejor calidad de vida a su familia. Su mayor reto es tener la capacidad de ampliar su oferta de productos, porque asegura que es la única forma de aumentar sus ganancias. Por esta razón se encuentra solicitando un crédito con el que comprará canastas para mejoras locativas y productos para la venta. Su mayor sueño es poder ver a su familia en 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.