Cristobal is 47 years old. He has earned his living for six years selling plantains, yuca, and yams in his town's market square. He works every day from two o'clock in the morning until five o'clock in the evening, together with his daughter, who sells with him. Thanks to this business, his family does not lack the basic necessities and they have been able to continue guaranteeing their children an education.
Cristobal's biggest dream is to have a storehouse where he could store his produce so that it would last longer and could be sold at a better price. He affirms that his family is the source of his greatest happiness and that his work is the key to keeping them together. He is now requesting a loan for the purchase of stock to improve his sales so that he can provide his family with better economic conditions.
Cristobal de 47 años de edad, se dedica desde hace seis años a la comercialización de plátanos, yuca y ñame, en la plaza de mercado de su localidad. Trabaja diariamente de dos de la mañana a cinco e la tarde, en conjunto con su hija quien le colabora con las ventas. Gracias a la actividad su familia no carece de las necesidades básicas y han logrado salir adelante garantizándoles a sus hijos una educación.
Su mayor sueño es tener una bodega que le permita almacenar sus productos para que tengan una mayor durabilidad y venderlos a un mejor precio.
Asegura que su mayor felicidad se la proporciona su familia y que el trabajo se constituye en el eje fundamental para permanecer unidos. Hoy se encuentra solicitando un crédito que invertirá en la compra de surtido para mejorar sus ventas y con ello ofrecerle a su familia una mejor condición económica.
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.