Nelson is 50 years old. He built his own business selling staple goods. He has more than 10 years of experience in the business, and his neighbors know him as a man who has achieved success through discipline and hard work. Thanks to his business, he has been able to improve his family's living conditions.
His greatest dream is to expand his business so he an increase his income. He is therefore requesting a loan to buy merchandise. He hopes for a strong family that does not suffer economic deprivation.
Nelson de 50 años de edad, creó su propio negocio dedicado a la venta de productos de la canasta familiar. Con más de 10 años de experiencia en el sector don Nelson es reconocido en su barrio como un hombre que ha logrado salir adelante con disciplina y esfuerzo. Gracias a su negocio a logrado mejorar las condiciones de vida de su familia.
Su mayor sueño es ampliar su negocio, con el fin de aumentar sus ingresos. Razón que lo ha impulsado a solicitar un crédito para la compra de surtido.
Desea ver a su familia unida y sin carencias económicas.
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.