Luis Alfonso, 34, is a man with great experience in business. Since he was young, he has been working in different establishments in his town; this is how he accumulated enough experience to start his own business.
“Although the road leading to my dream of starting a business was bumpy, I look back and realize that nothing was in vain, that everything I have experienced has led me to a better life.” With these words, Luis explains how the process started, from the first time he thought of starting the business.
Today, his family feels proud of him, because with hard work and commitment he has been able to raise his two underage children. His biggest dream is to be able to expand his business and create job opportunities for his neighbors, and this is why he is requesting a loan to restock his store. He expects to increase his income and improve his family’s quality of life.
Luis Alfonso de 34 años de edad, es un hombre con una gran experiencia en el sector comercial, desde joven laboró en diferentes negocios de su localidad, por lo cual adquirió la experiencia para montar su propia empresa.
“Aunque el camino no fue fácil para lograr cumplir mi sueño de montar empresa, hoy miro atrás y me doy cuenta que nunca fue perdido, que todo lo que he vivido me ha conducido a una vida mejor” Con estas palabras, Luis manifiesta como ha sido su proceso desde que inició con su idea de negocio. Hoy es un gran orgullo para su familia, porque con su esfuerzo y dedicación ha logrado sacar adelante a sus dos hijos menores de edad. Su mayor sueño es poder expandir su negocio y generar fuentes de empleo en su localidad. Por esta razón se encuentra solicitando un crédito para la compra de surtido. De esta manera espera poder incrementar sus ingresos y mejorar la calidad de vida de su 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.