41-year-old Wilson is a hard-working person who has always looked for ways to provide his family with a better quality of life.
Owing to a lack of work opportunities, Wilson decided to set up his own store selling basic household products in order to make income for his household. He is requesting a loan to invest in buying stock, to expand his range of products and to provide his customers with a better service so that he can grow his business and better position it within the town. He hopes that this investment will enable him to improve his family's quality of life and contribute to the development of his business which is his sole source of support.
Wilson de 41 años de edad, es una persona trabajadora que siempre ha buscado alternativas para brindarle a su familia una mejor calidad de vida.
Debido a la escasez de trabajo optó por montar una tienda dedicada a la venta de productos de la canasta familiar y generar los ingresos para su hogar.
En búsqueda de expandir su negocio y posicionarlo es su municipio, Wilson se encuentra solicitando un crédito que invertirá en la compra de surtido, para ampliar su portafolio de productos y brindarles a sus clientes un mejor servicio. Espera que con dicha inversión pueda mejorar la calidad de vida de su familia y contribuir al desarrollo de su actividad comercial, la cual es su única fuente de sostenimiento.
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.