John is 46 and has sold electronic goods and replacement parts for the past twenty years. At the same time, he also lends his services in electronics. He started his business in his home, and with the passing of time, his sales have increased, creating the opportunity to open a location and expand his place in the local market.
He is currently requesting a loan to purchase a motorcycle so he can get to homes for his business, which would help him increase sales and reduce transportation costs.
His dream is to offer his family their own home and a better quality of life.
John de 46 años de edad, se dedica desde hace 20 años a la venta de artículos y repuestos relacionados con la electricidad, al tiempo que presta sus servicios en la misma área. Inició su negocio desde su vivienda y con el transcurrir del tiempo sus ventas han incrementado, generando la oportunidad de abrir un local y expandirse en el mercado local.
En la actualidad se encuentra solicitando un crédito para la compra de una motocicleta para realizar los domicilios de su negocio, lo que le permitirá aumentar las ventas y reducir los costos de transporte.
Sueña con poder brindarle a su familia una vivienda y mejorar su 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.