Alirio is 45 and lives in El Algarrobo with his wife and their three children. A farmer by trade, he works as a day labourer, which is an unreliable source of income. This is why he chose to set up a general store at his house in order to improve his family's quality of life. He wants to increase his sales so as to help his oldest son move to the city and attend university. Alirio's greatest dream is to improve his business by offering a wider range of products for sale, in order to correctly answer customer demand. Thus, he asks for this loan in order to buy basic household goods and alcohol to sell.
Alirio de 45 años de edad, es un campesino de la vereda el algarrobo, lugar en donde vive con su esposa y sus tres hijos, dedicado a laborar al jornal, actividad inestable que en ocasiones no le genera el sustento diario. Por esta razón tomó la determinación de montar en su vivienda una tienda con el fin de ofrecerle a su familia una mejor calidad de vida. Desea poder incrementar sus ventas para brindarle a su hijo mayor la oportunidad de radicarse en la ciudad e ingresar a la universidad.
Su mayor sueño es poder consolidar su negocio y ofrecer todo tipo de productos con el propósito de satisfacer las necesidades de sus clientes. Por esta razón se encuentra solicitando un crédito con el fin de invertirlo en la compra de productos de la canasta familiar y licor.
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.