Ignacio, who is 65-years old, is an enterprising man who sees possibility in every difficult situation. He says that his business idea came from noticing that his neighborhood needed an internet cafe. It was an opportunity that became a business idea and now provides Ignacio and his family with their income.
Ignacio has been developing his business for six months, and he feels quite satisfied with the response from the people in the area. And that is why he his looking for a loan: to invest in the purchase of computer equiptment and to make some alterations to his cafe. His goal is to improve the quality of the service he offers.
Ignacio hopes for his business to keep growing, which would guarantee his youngest son access to higher education.
Ignacio de 65 años de edad, es un hombre emprendedor que ve en cada dificultad una oportunidad para salir adelante. Cuenta que su idea de negocios surgió debido a la necesidad que detectó en su barrio por un café internet, oportunidad que transformó en idea de negocio y hoy se ha convertido en su fuente de ingresos para él y su familia.
Lleva seis meses con el desarrollo de la actividad y se siente muy satisfecho por la respuesta de la personas del sector, Razón por la cual se encuentra en búsqueda de un crédito que invertirá en la compra de un equipo de computo y adecuaciones locativas con el propósito de mejorar la calidad en el servicio.
Espera que su negocio siga creciendo para garantizarle a su hijo menor el acceso a la educación superior.
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.