Domingo is 33 years old. He is the father of three minor children and he has lived most of his life in the countryside. His big dream is to be a successful micr-businessman and so he started to fight to make that a reality. Thanks some good luck, as he calls it, close to where he lives a locale became vacant. He took it and began to sell vegetables and basic staples to the farmers who would pass by.
Today he feels that his activity is his biggest blessing, because thanks to it his family's quality of life has improved considerably and he has been able to guarantee an education for his children. Right now he is asking for a loan that he will invest in buying stock so he can have the products that are most in demand and improve his income to guarantee his family a better quality of life.
Domingo de 33 años de edad, padre de tres hijos menores de edad y ha residido la mayor parte de su vida en el campo. Su gran sueño fue ser un microempresario de éxito por lo cual comenzó a luchar a fin de convertirlo en realidad. Gracias a un golpe de suerte como lo llama él, cerca de su vivienda desocuparon un local, el cual tomó y comenzó a comercializar legumbre y productos de la canasta familiar a los campesinos de la vereda.
Hoy siente que su actividad es su mayor bendición porque gracias a ésta, la calidad de vida de su familia ha mejorado considerablemente y a logrado garantizarle educación a sus hijos. En la actualidad se encuentra solicitando un crédito que invertirá en la compra de surtido, con el fin de contar con los productos que más solicitan y mejorar sus ingresos para garantizarle a su familia una mejor calidad de vida.
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.