For a while he worked making gravestones, but the business did not turn out to be profitable, and as a result his financial situation deteriorated. This is the reason why he has been motivated to start selling vegetables and eggs from his home, a business he sees as viable because of the shortage of it in the area.
Currently he doesn't have the resources for this investment, so he is applying for a loan to buy vegetables and eggs with the goal of starting up his business project.
He hopes that with the development of the business he will be able to improve his financial situation and offer his family a better quality of life.
En la actualidad no cuenta con los recursos para dicha inversión, por lo cual se encuentra solicitando un crédito para la compra de legumbre y huevos con el fin de dar inicio a su proyecto de negocio.
Espera que con el desarrollo de la actividad pueda mejorar su condición económica y brindarle a su familia una mejor calidad de vida.
More information about this loan
By supporting this loan, you're helping a borrower launch a new business!
This loan is designed for an entrepreneur who needs working capital to start a brand new business. Along with the loan, Kiva's field partner Interactuar provides counseling, training courses, and other financial resources to help new, riskier entrepreneurs set up young 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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