52-year-old Gustavo has succeeded in setting up his store with hard work and a great deal of dedication. The store is his only source of income for supporting his family. He loves his work, and the reason why he's passionate about it is the satisfaction he gets from seeing his family happy.
He has been running his business for seven years. It has allowed him to acquire experience and establish himself in his town. Nevertheless, he reports that his main obstacle is the competition, because there are many businesses offering the same services. He explains that the factor that sets him apart is providing good service for his customers, offering reasonable prices and having a wide variety of merchandise. For that reason Gustavo is requesting a loan which he'll use to stock up, so that he can increase his product portfolio and keep the loyalty of his customers.
He hopes that this loan will allow him to improve his family's living conditions.
Gustavo de 52 años de edad, ha logrado crear con esfuerzo y mucha dedicación su tienda, la cual es su única fuente de ingresos para el sostenimiento de su familia. Ama su trabajo y la pasión con que lo hace se debe a la satisfacción que le produce ver a su familia feliz.
Desde hace siete años administra su negocio, el cual le ha permitido adquirir experiencia y posicionarla en su municipio, aunque asegura que su principal dificultad es la competencia debido a que existen muchos negocios que ofrecen los mismos servicios, por lo cual explica que su factor diferenciador es tener una buena atención con sus clientes, ofrecer precios razonables y tener de variedad de productos. Por esta razón Gustavo se encuentra solicitando un crédito que invertirá en la compra de surtido con el propósito de aumentar su portafolio de productos y fidelizar su clientela.
Espera que esta inversión le permita 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.