Today, he is soliciting a loan to invest in the acquisition of his own business, an internet cafe where he will offer added services such as computer equipment maintenance and cell phone repair.
Andres is confident that with the purchase of this business, the economic conditions of his family will improve considerably and he will have the opportunity to enroll in the university to become a systems engineer.
Hoy se encuentra solicitando un crédito que invertirá en la adquisición de su propio negocio, una sala de internet, en donde además se ofrecerán servicios de mantenimiento de equipos y reparación de celulares.
Andrés asegura que con la compra del negocio las condiciones económicas de su familia mejorarán considerablemente y el podrá tener la oportunidad de ingresar a la universidad para realizar una ingeniería en sistemas.
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By supporting this loan, you're helping a borrower launch a new business!
This loan is designed for an entrepreneur who needs working capital to start a brand new business. Along with the loan, Kiva's field partner Interactuar provides counseling, training courses, and other financial resources to help new, riskier entrepreneurs set up young businesses.
Important InformationThis 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.
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