Gabriel is a 30-year-old. His life has been marked by limitations and the few opportunities that life has given him. He could not access education due to financial problems at home, so decided to start his own business and set up a shop selling basic household goods. Since then, he is the one who pays the household expenses where he lives with his mother.
He wants his business to be able to offer him a good future and a better quality of life. For this reason he wants a loan that he will invest in the purchase of supplies to increase his volume of sales in the area and improve his family's living conditions.
Gabriel es un joven de 30 años. Su vida se ha encontrado marcada por las limitaciones y las pocas oportunidades que le ha brindado la vida. No pudo acceder a una educación debido a los problemas económicos en su hogar, por lo que decidió emprender su propio negocio y montó una tienda dedicada a la venta de productos de la canasta familiar. Desde entonces es quién sostiene los gastos del hogar donde convive con su madre.
Desea que su negocio le pueda brindar un buen futuro y una mejor calidad de vida. Por lo cual desea realizar un crédito que invertirá en la compra de surtido para aumentar su volumen de ventas en el sector y mejorar la condición de vida de su familia.
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.