His goal is to improve his economic situation and guarantee his family better living conditions. For this reason Johan is requesting a loan to pay for training in the preparation of products made from cheese and calado [a syrop used for desserts]. This training would allow him to become independent and start his own business in the medium-term. His greatest wish is to provide his mother with her own home.
Con el fin de mejorar su condición económica y garantizarle a su familia mejores condiciones de vida, Johan se encuentra solicitando un crédito con el fin de capacitarse en la elaboración de productos a base de quesos y calados, conocimiento que le permitirá independizarse y crear su propio negocio en el mediano plazo.
Su mayor deseo es brindarle a su madre una vivienda propia.
More information about this loan
This loan is part of Interactuar's effort to being innovative and high-quality non-financial products to more borrowers.
In addition to credit, the organization provides training in business management, gastronomy, tourism, marketing, design, sales, and other areas. It also advises borrowers on their new and existing businesses, and its food laboratory helps farmers increase their crop yields. Together, all of these services help borrowers gain new skills and optimize their businesses.
Important InformationThis 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.
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