Carlos Alberto, 49, is a father of two children who are his main reason to come out ahead. He says that his only asset is made up of a public taxi service, which was his only source of income to support his family. A neighbour who was a shop owner suggested to him that he change businesses to which he agreed. Today he feels highly satisfied because he believes the profits are better.
Because his business is growing, Carlos is asking for a loan which he will invest in the purchase of household goods and vegetables with the purpose of improving his product portfolio.
He hopes that with this investment he can guarantee his children quality education and an improvement in their lives.
Carlos Alberto de 49 años de edad, es padre de dos hijos los cuales son su principal motivo para salir adelante. Cuenta que su único activo lo constituía un taxi de servicio público, el cual era su única fuente de ingresos para el sostenimiento de su familia. Un vecino quien era propietario de una tienda le ofreció que cambiaran de negocios a lo cual el accedió y hoy se siente altamente satisfecho porque considera que las utilidades son mejores. Debido a que su negocio se encuentra en vía de crecimiento, Carlos se encuentra solicitando un crédito que invertirá en la compra de productos de la canasta familiar y legumbres con el fin de mejorar su portafolio de productos. Espera que con esta inversión pueda garantizarles a sus hijos educación de calidad y mejorar sus condiciones 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.