Javier is 57 years old. He is an entrepreneur and committed to getting ahead. Ten years ago he opened a restaurant-hotel, which he manages. Thanks to his job he has been able to settle his debts and provide for his mother since his father died several years ago. His greatest wish is to improve his business, since sales and tourists are scarce, and improve the difficult economic situation he is currently facing.
Today he is requesting a loan that he will invest in buying a refrigerator and food staples, in order to offer better service to his customers and to improve his mother's quality of life.
Javier de 57 años de edad, es un hombre emprendedor y esforzado por salir adelante. Desde hace diez años abrió un restaurante-hotel, el cual administra. Gracias a su labor ha logrado solventar sus gastos y sostener a su madre debido a que su padre falleció hace algunos años.
Su mayor deseo es poder mejorar su negocio debido a que las ventas y los turistas han escaseado, con el fin de mejorar la difícil condición económica que afrontan en la actualidad.
Hoy se encuentra solicitando un crédito que invertirá en la compra de una nevera y productos de la canasta familiar, con el fin de ofrecer un mejor servicio y mejorar la calidad de vida de su madre.
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.