51 year old Aroldo lives in the town of Caucasia, Antioquia, Colombia, where he works selling watermelon by the unit. This work has become his only source of profits for the sustenance of his family, composed of his spouse and his children. Each day, he gets up at four in the morning to start his job. He goes to the marketplace where he purchases the product in bulk, for the purpose of generating profits to scale. Later he is located in a small space of the main park, where he distributes his product.
His greatest dream is to be able to generate the necessary resources to establish his business in a strategic location of the town, and position it in the marketplace with the goal of generating better profits, which allow him to improve the condition of life in his household. These are the reasons which motivate Aroldo to request a loan and to invest in the purchase of watermelon.
Aroldo de 51 años de edad, vive en el municipio de Caucasia, Antioquia, Colombia, en donde labora comercializando sandia por unidades. Esta actividad se ha convertido en su única fuente de ingresos para el sostenimiento de su familia compuesta por su esposa y sus hijos. Todos los días debe levantarse a las cuatro de la mañana a comenzar su faena. Se dirige a la plaza de mercado en donde realiza la compra del producto al por mayor con el propósito de generar ganancias a escala. Posteriormente, se ubica en un pequeño espacio del parque principal en donde distribuye su producto.
Su mayor sueño es poder generar los recursos necesarios para establecer su negocio en un punto estratégico del municipio y posicionarlo en el mercado, con el fin de generar mejores ingresos que le permitan mejorar la condición de vida en su hogar. Estas son las razones que motivan a Aroldo a solicitar un crédito e invertir en la compra de sandia.
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.