Sergio, age 41, is an enterprising man who has earned the admiration of his family and neighbours. Three years ago he decided to start his own video game business with the goal of improving his family's quality of life and guaranteeing his children an education.
These days, he feels very satisfied with his achievements and assures us that his greatest desire is for his business to keep growing with the goal of improving the quality of life of his nuclear family. For this reason, he is requesting a loan which he will invest in the purchase of a TV and a Play Station console. This will allow him to offer a better service and improve his economic conditions.
Sergio de 41 años de edad, es un hombre emprendedor, que se ha ganado la admiración de su familia y vecinos. Desde hace tres años decidió emprender su propio negocio dedicado a los videojuegos, con el fin de mejorar la calidad de su familia y garantizarles educación a sus dos hijos.
Hoy se siente satisfecho por los logros alcanzados y asegura que su mayor deseo es que su negocio siga creciendo con el propósito de mejorar la calidad de vida en su núcleo familiar, razón por la cual se encuentra solicitando un crédito que invertirá en la compra de un T.V y una consola play station, lo que le permitirá prestar un mejor servicio y mejorar su condición 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.