Gregorio, 69, is a clear example that moving forward is a question of will. For 12 years, he has worked selling sweets outside of the schools in his city. "Even though this work isn't making me a millionaire, at least it staves off hunger in my home." With these words, Gregorio declares that his work has been a blessing, because it has allowed him to educate his children and bring home food every day. His biggest dream is to be able to launch a well-stocked store in order to increase his income and buy his family the house that they long for. He knows that the only way to achieve this dream is to work hard. This is why he doesn't brood over when to get up and start his work. He is applying for the loan to buy sweets, pastries, and soft drinks, in order to increase his sales and improve his earnings.
Gregorio de 69 años de edad es un claro ejemplo de que salir adelante es cuestión de ganas. Desde hace 12 años se dedica a la venta de dulces en las afueras de los colegios en su municipio. “Aunque esta actividad no me hace millonario, por lo menos calma el hambre en mi casa” con estas palabras don Gregorio manifiesta que su trabajo ha sido una bendición porque le ha permitido educar a sus hijos y llevar diariamente el alimento a su hogar. Su mayor sueño es poder montar una tienda bien surtida, para aumentar sus ingresos y poderle comprar a su familia la casa que tanto añoran. El es conciente que la única forma de lograrlo es trabajar arduamente, por ello no medita la hora de levantarse y comenzar con su faena. En la actualidad se encuentra solicitando un crédito para la compra de confitería, mecatos y gaseosas, con el propósito de incrementar sus ventas y mejorar sus ingresos.
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.