Luis, 44, always dreamed of creating his own business, of having financial stability so he could give his family a better quality of life. This motivated him to start his own business selling products from the family shopping basket.
Thanks to his business he has been able to give his two children, ages 16 and 10, a good education and a better future.
Now Luis is looking for a loan to buy supplies so he can satisfy his customers' needs and increase his sales. This will allow him to generate more income and achieve his big dream of having his own house.
Luis de 44 años de edad, siempre soñó con crear su propio negocio, tener una estabilidad económica que le permitiera ofrecerle a su familia una mejor calidad de vida. Razón que lo motivó a iniciar su negocio dedicado a la venta de productos de la canasta familiar.
Gracias a su negocio, ha podido brindarles a sus dos hijos de 16 y 10 años de edad una buena educación y un mejor porvenir.
Hoy, Luis se encuentra en búsqueda de un crédito para la compra de surtido que le permita satisfacer las necesidades de sus clientes e incrementar sus ventas, lo que le permitirá generar mayores ingresos y cumplir su gran sueño de tener casa propia.
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.