"There are many people who live in their palaces and money is not a worry, but for others, this is the karma of every day." With these words, Carlos, who is 61 years old, explains the work that he does daily from one in the morning in the market plaza, where he sells bananas and tomatoes with the goal of generating sustenance for his family.
He began this work five years ago, when he suffered an accident at his workplace, where he was a construction worker.
Today, thanks to his business, he has succeeded in supporting his children and his wife.
With the aim of improving his quality of life, Carlos is applying for a loan that will be destined for the purchase of bananas and tomatoes, which will allow him to increase his sales and improve his income.
“Existen muchas personas que viven en sus palacios y el dinero no es una preocupación, pero para otros, este es el karma de cada día” Con estas palabras Carlos de 61 años de edad, explica la labor que realiza diariamente desde la una de la mañana en la plaza de mercado en donde comercializa plátano y tomate, a fin de generar el sustento para su familia.
Inició la actividad desde hace cinco años, cuando sufrió un accidente en su lugar de trabajo en el cual se desempeñaba como obrero de construcción.
Hoy gracias a su actividad ha logrado sostener a sus hijos y esposa.
Con la intención de mejorar su calidad de vida, Carlos se encuentra solicitando un crédito que destinará en la compra de plátano y tomate lo que le permitirá aumentar las ventas y mejorar los ingresos.
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.