Ángel, 43, knows how to earn his daily bread and offer his family the best quality of life. His strength has always been the commercial sector, which is why, for 23 years, he has been selling fruit and groceries in a small stand located in the main park of the Santa Fe municipality of Antioquia, Colombia.
His best-selling product is tamarind fruit, by which he has become well-known in his area. Natives and foreigners visit his business to take home this exotic fruit. One of his biggest challenges is buying the fruit. Because it is a non-traditional product and its harvest is seasonal, the cost tends to rise, which causes a reduction in his profitability.
In spite of the difficulties caused by prices, Ángel states that thanks to his business he has been able to improve his life's conditions. Today he wishes to expand his business and make improvements to his business premises.
To meet his goals, he is requesting a loan to be invested in the purchase of tamarind fruit with the purpose of increasing his sales and generating a greater income which will allow him to go in search of the structure of his dreams.
Ángel de 43 años de edad, sabe como ganarse el pan diario y ofrecerle a su familia una mejor calidad de vida. Su fuerte siempre ha sido el sector comercial, por lo cual desde hace 23 años se dedica a la venta de fruta y comestibles en una pequeña caseta ubicada en el parque principal del municipio de Santa Fe de Antioquia, Colombia.
Su producto de mayor venta es el tamarindo, con el cual se ha dado a conocer en su localidad. Nativos y extranjeros visitan su negocio para llevar esta exótica fruta.
Una de sus mayores dificultades es la compra de la fruta, debido a que por ser un producto no tradicional y su cosecha es por temporada el costo suele elevarse, ocasionándole reducción en su rentabilidad.
A pesar de las dificultades ocasionadas por los precios, don Ángel, cuenta que gracias a su actividad ha podido mejorar sus condiciones de vida. Hoy desea expandir su negocio y realizar mejoras locativas. Para cumplir con sus metas se encuentra solicitando un crédito que invertirá en la compra de tamarindo con el fin de aumentar sus ventas y generar mayores ingresos que le permitirán ir en búsqueda de la construcción de sus sueños.
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.