Rodrigo is 34 years old and for the past 15 months has been working on his own, selling merchandise. Thanks to his effort and discipline, he set up a business where he sells shoes and clothing. He works daily from 8:00 am to 8:00 pm. He got the idea to start this business because of the opportunity he had to attend a free training session for entrepreneurs. Now he is asking for a loan so that he can buy inventory and buy new collections. His greatest dream is to improve his quality of life and grow his business until it becomes a multinational company.
Rodrigo de 34 años de edad. Trabaja como independiente en la venta de mercancía desde hace 15 meses. Gracias a su esfuerzo y disciplina estableció su negocio en un local. Allí comercializa calzado y prendas de vestir. Labora diariamente de ocho de la mañana a ocho de la noche. La idea de crear empresa surgió gracias a la oportunidad que tuvo de acceder a una capacitación gratuita para formar emprendedores. Hoy se encuentra solicitando un crédito con el objetivo de adquirir surtido y comprar las nuevas colecciones del mercado. Su mayor sueño es mejorar la calidad de vida familiar y expandir su negocio hasta convertirla en una multinacional.
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.