Jhon Fredy, age 39, has dedicated his whole life to the sale of fruits and vegetables on the street. He walks the streets of his neighbourhood and the surrounding sectors every day. Four years ago, he was able to obtain permission to sell his products. He works from 7:00 am to 6:00 pm Monday to Saturday.
He now wants to change his cart because it is in bad shape. He also wants to invest in the purchase of more stock in order to increase his income and improve his family's quality of life. In the near future he wants to have his business at a fixed location and generate a direct income for his family.
Jhon Fredy de 39 años de edad se ha dedicado durante toda su vida a la venta de frutas y verduras de manera ambulante, recorre diariamente las calles de su barrio y otros sectores cercanos. Desde hace 4 años logró obtener el permiso para comercializar sus productos. Labora de 7:00 am a 6:00 pm de lunes a sábado.
En la actualidad desea cambiar su carrera debido al mal estado en el que se encuentra e invertir en la compra de surtido con el fin de aumentar sus ingresos y mejorar la calidad de vida de su familia. En un futuro próximo desea tener su negocio en un punto fijo y generar empleos directos a su familia.
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.