Ovidio is 47 years old and makes a living selling clothing and shoes in the city of Medellín, Colombia. He has been working in this area for three years, and this job is the sole source of income for himself, his wife and their two children.
As a result of a family crisis, Ovidio decided to start a small retail business. He feels grateful and satisfied with his work as it has enabled him to improve his family's financial condition and provide a good education for his children.
Ovidio has faced many challenges in life, but he has always viewed those tough times with the same attitude: "I am not someone who gives up, because the impossible is just an illusion, a creation of the human mind. Everything is possible." Ovidio has lived his life by this motto and vision, and thanks to his perseverance, he has been able to launch his business.
Although the work has never been easy and the competition in his industry is stiff, Ovidio always faces the obstacles in his path with courage and conviction. With his goals and values in mind, Ovidio is requesting this loan to help him purchase clothing and shoes to stock his business. He also plans to purchase two showcase cabinets for displaying his merchandise. He hopes that his investment will sharpen his business model and increase his overall profits and success.
Ovidio de 47 años de edad, se dedica a la comercialización de ropa y calzado en la ciudad de Medellín, Colombia desde hace tres años. Esta actividad es su única fuente de ingresos con la cual sostiene a sus dos hijos y esposa.
Debido a una crisis económica familiar, optó por dedicarse a la venta de mercancía. Se encuentra gratamente satisfecho con su actividad porque asegura que sus condiciones económicas han mejorado y puede ofrecerles a sus hijos una buena educación.
Ovidio es un hombre lleno de retos en la vida, pero lo que más sorprende a sus vecinos es la disciplina con la que traza su camino. “no soy de los que se rinden, porque considero que los imposibles no son más que ilusiones que el ser humano se crea en su mente” con esta frase Ovidio describe su personalidad. Asegura que gracias a su perseverancia ha podido llegar a montar su negocio.
Aunque la tarea no es nada fácil y la competencia se torna agresiva, se enfrenta a los retos con valentía y siempre con la convicción de la obtener la victoria. Con sus ideales claros y con granas de triunfar, Ovidio se encuentra solicitando un crédito que invertirá en la compra de mercancía y dos vitrinas a fin de adecuar sus productos y mejorar sus ingresos.
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.