32-year-old Víctor has been working as an itinerant street vendor for 5 years. He sells glasses in the city center and works from Monday to Saturday, from 8.00am to 6.00pm. Thanks to his business, his family have a roof over their head and food on the table.
Víctor is currently requesting a loan to invest in buying stock so that he can increase his sales and improve his family's living conditions. He dreams of setting up his business in a store and expanding his product portfolio.
Víctor de 32 años de edad, es vendedor ambulante desde hace de 5 años. Comercializa gafas en el centro de la ciudad y labora de lunes a sábado de ocho de la mañana a seis de la tarde. Gracias a su actividad su familia goza de un techo en donde vivir y de una comida con que calmar el hambre.
En la actualidad se encuentra solicitando un crédito que invertirá en la compra de surtido con el fin de aumentar sus ventas y mejorar las condiciones de vida de su familia.
Sueña con establecer su negocio en un local y ampliar su portafolio de productos.
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.