Carlos, who is 69 years old, is characterized by being an entrepreneurial man. At his age, he has a great will to work. He affirms that his two children, ages 10 and 7, are his biggest motivation.
Three years ago he set up a store dedicated to the sale of basic food products, with the goal of improving his economic condition and generating a source of income to sustain his household since because of his age, the working world has closed it doors to him.
Now he is in search of a loan with the goal of expanding his portfolio of products and increasing his sales. He hopes that with this investment he can guarantee his family a dignified quality of life and education for his two children.
Carlos de 69 años de edad, se ha caracterizado por ser un hombre emprendedor, a su edad, lo que le sobran son ganas de trabajar. Asegura que sus dos hijos de diez y siete años de edad, son su mayor motivación.
Desde hace tres años montó una tienda dedicada a la venta de productos de la canasta familiar con el fin de mejorar su condición económica y generar una fuente de ingresos para el sostenimiento de su hogar, ya que por su edad, el mundo laboral le cerró las puertas.
Hoy se encuentra en búsqueda de un crédito con el fin de incrementar su portafolio de productos y aumentar sus ventas. Espera que con dicha inversión pueda garantizarles a su familia una calidad de vida digna y educación a sus dos hijos.
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.