In search of alternative ways to generate income that would permit him to sustain his home and cover the education of his three children, 55-year-old Gonzalo turned to his experience as a merchant and chose to undertake the creation of his own business dedicated to selling products for the family shopping basket.
Today his store is positioned in the sector and he wants to remain a pioneer in the market. For this reason, he is requesting a loan that will be invested in the purchase of products that his customers constantly ask for.
His biggest dream is to continue growing and to convert his business into a grand supermarket.
En la búsqueda de alternativas para generar ingresos que le permitieran sostener su hogar y velar por la educación de sus tres hijos, Gonzalo de 55 años de edad, recurrió a su experiencia como comerciante y opto por emprender la creación de su propio negocio dedicado a la venta de productos de la canasta familiar. Hoy su tienda se encuentra posicionada en el sector, por lo cual desea permanecer como pionero en el mercado y para ello se encuentra solicitando un crédito que invertirá en la compra de productos que sus clientes le sugieren constantemente. Su mayor sueño es seguir creciendo y convertir su negocio en un gran supermercado.
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.