Yorman is a young entrepreneur with a promising outlook. His will to succeed has helped him achieve great goals in life. He has today a fast-food business and this is how he receives an income, helps his mother and pays for his studies. His dream is to become a micro entrepreneur and this is why he is requesting a loan to invest in supplies needed to prepare the food he sells.
His biggest dream is to improve his sales and attract more customers, so that he can open a restaurant in the near future.
Yorman es un joven emprendedor y con un futuro promisorio. Sus ganas de salir adelante le han permitido alcanzar grandes logros en su vida. Hoy cuenta con su propio negocio dedicado a la venta de comidas rápidas, labor que le permite generar los recursos necesarios para colaborarle a su madre y pagarse sus estudios. Sueña en convertirse en un gran microempresario y para ello se encuentra solicitando un crédito que invertirá en la compra de insumos para la preparación de sus comidas.
Su mayor sueño es poder mejorar sus ventas y aumentar el número de clientes, con el objeto de montar en un futuro próximo un gran restaurante.
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.