Andrés is a young entrepreneur of 28 years. He fights standing alongside his wife to strengthen his business. He has a business based out of his home charging people to play videogames. This business is the sole source of income that pays for the rent, food, and supporting his one year old son.
His biggest wish is to get ahead in life and improve the quality of life for his family. This has motivated him to request a loan to invest in a play station and pastries to offer a greater variety.
He hopes that with said investment, their quality of life will improve, and he will be able to enjoy stable finances with his family.
Andrés de 28 años de edad, es un joven emprendedor, que al lado de su esposa lucha por consolidar su negocio. Actualmente presta en su residencia el servicio de videojuegos. Actividad que es su única fuente de ingresos para el pago del arriendo, la alimentación y el sostenimiento de su hijo de un año de edad.
Su mayor deseo es salir adelante y mejorar las condiciones de vida de la familia, motivo que los ha impulsado a solicitar un crédito que invertirán en la compra de un play y mecatos para ofrecer mayor variedad.
Espera que con dicha inversión la calidad de vida mejore y poder gozar con su familia de una estabilidad económica.
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.