Ramiro, 34, is the father of three children. He has worked at different jobs all his life so that he could earn enough money to feed and support his family. A year ago, he decided to invest his savings in basic food products and open his own business. His great wish is to expand his store and generate more profit, as this is the only income source he has to support his family.
Ramiro has applied for a loan to buy inventory to meet demand. He dreams of offering his family a better life without financial constraints.
Ramiro de 34 años, es padre de tres hijos. Toda su vida se ha dedicado a laborar en oficios varios a fin de conseguir el alimento y el dinero para sostener su hogar. Desde hace un año decidió invertir sus ahorros en la compra de productos de la canasta familiar y montar su propio negocio. Su mayor deseo es expandir su tienda y generar mayores ganancias, debido a que esta actividad es su única fuente de ingresos para el sostenimiento de su hogar.
Ramiro hoy se encuentra solicitando un crédito para la compra de surtido, debido a la demanda que ha tenido en su negocio. Sueña con poder ofrecerle a su familia una mejor calidad de vida alejada de toda carencia econòmica.
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.