Arquímides is 32 years old. He makes his living providing a video-game service in his residence, with the goal of generating resources to sustain his household. He says that his greatest concern is his financial situation and providing for his two-year-old daughter, which is why he opted to try earning money this way when he was unable to find full-time work.
He feels satisfied with the progress he has made because he is convinced that, with time, his business will begin to grow and for now, it is generating enough for them to live on. With the objective of improving his service and increasing his sales, he is requesting a loan that he will invest in the purchase of a television and a console. He dreams of giving his daughter a quality education and giving his family a respectable house.
Arquímides de 32 años de edad, se dedica a prestar el servicio de videojuegos desde su residencia, con el propósito de generar recursos para el sostenimiento de su hogar. Asegura que su mayor preocupación es su condición económica y la manutención de su hija de dos años de edad, por cual optó por subemplearse.
Se siente satisfecho con los logros alcanzados porque está convencido que con el tiempo su negocio comenzará a crecer y por ahora les genera lo suficiente para vivir. Con el fin de mejorar el servicio y aumentar sus ventas, se encuentra solicitando un crédito que invertirá en la compra de un televisor y una consola. Sueña con brindarle una educación de calidad a su hija y una vivienda digna 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.