Jonny is 42 years old, and for the past fifteen years, has made a living selling a range of items such as shoes, beauty products and household goods. This is his only source of income to support his family, comprising his wife and his two young children.
With the aim of improving his financial situation and sending his oldest daughter to university, Jonny is requesting a loan which will enable him to buy more merchandize to explore new markets in the area and boost his profits. His dream is to provide his family with a dignified life, and prevent them from going without due to his job instability.
Jonny de 42 años de edad, se dedica desde hace quince años a la comercialización de artículos diversos como calzado, productos de belleza y hogar. Actividad que es su única fuente de ingresos para el sostenimiento de su familia, compuesta por su esposa y sus dos hijas menores de edad.
Con el propósito de mejorar su situación económica e ingresar a su hija mayor a la universidad, Jonny se encuentra solicitando un crédito que le permita adquirir mayor volumen de mercancía con el fin de abrir nuevos nichos de mercado dentro de la región y generar mayores ingresos.
Sueña con brindarle a su familia una vida digna alejada de las necesidades que han padecido a causa de su inestabilidad laboral.
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.