Andrés is 55 years old and was a humble farmer dedicated to working the land to make a living for his family, which consists of his spouse and four children. For the past 14 years he has lived in the city of Medellín due to displacement by armed forces.
Without experience and money, he had to abandon all that he had constructed with his effort and years of work. He says that finding work in the city seemed like a utopia due to his lack of education, which made him search for other alternatives to bring his family a home and food. In this way he began with the sale of sweets and drinks walking along the streets of the city. Thanks to this activity, Andrés has managed to move forward and offer an education to his children.
His big dream is to buy a home to bring his family better living conditions. That is reason he is asking for this loan, which he will invest in the purchase of products with the goal of increasing his sales.
Andrés de 55 años de edad, era un humilde campesino dedicado a labrar la tierra para generar el sustento para su familia, compuesta por su esposa y cuatro hijos. Desde hace 14 años reside en la ciudad de Medellín, debido a que fue desplazado para las fuerzas armadas.
Sin experiencia y dinero, debió abandonar lo que construyó con su esfuerzo y años de trabajo. Cuenta que en la ciudad conseguir un empleo se convirtió en una utopía debido a su carencia educativa, por lo cual buscó otras alternativas para generarle a su familia vivienda y alimentación. De esta manera inicio con la venta de dulces y tinto de manera ambulante en las calles de la ciudad. Gracias a esta actividad, Andrés ha logrado salir adelante y ofrecerles a sus hijos educación.
Su mayor sueño es comprar una vivienda para brindarle a su familia mejores condiciones de vida. Razón por la cual se encuentra solicitando un crédito que invertirá en la compra de surtido con el fin de incrementar las ventas.
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.