Cesar, 42, is considered in his town to be a very hardworking, disciplined man. He relates that he started his business selling propane gas as a vendor earning sales commissions. Seeing that the business was profitable, he decided to invest his savings in it. He currently generates employment for three people that help him with sales and distribution.
His greatest dream is to be able to expand sales capacity and to become a well-positioned business. Because of this he’s looking for a loan to buy gas in order to meet local demand.
His two children who are 9 and 5 years of age have been his greatest motivation. Cesar concludes his store with these words: “I work hard for them every day aiming at providing them a better future and better opportunities.”
Cesar de 42 años de edad, es considerado en su municipio como un hombre trabajador y disciplinado. Cuenta que inició en el negocio de la venta de Gas propano como vendedor, ganando comisión por ventas, al ver que el negocio era rentable decidió invertir sus ahorros en esta actividad. En la actualidad genera empleo a 3 personas que le ayudan con las ventas y la distribución.
Su mayor anhelo es poder ampliar su capacidad de venta y consolidarse su empresa. Por esta razón se encuentra solicitando un crédito para la compra de gas, con el fin de cubrir la demanda de su localidad.
Sus dos hijos de 9 y 5 años de edad han sido su mayor motivación, “es por ellos que laboro fuertemente cada día con el propósito de ofrecerles un mejor futuro y mejores oportunidades”con estas palabras culmina Cesar su historia.
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.