Alonso’s a business man who is devoted to his family and to his work. He and his wife started a store five years ago focused on selling supplies for cabinet-making and metal-working as an alternative source of income for family support. He states that his wife’s and his son’s wellbeing are his main priority for which he works every day in order to secure them a better quality of life. He’s currently requesting a loan to buy stock to meet demand and to increase his business’ profitability.
Alonso, es un hombre de negocios, dedicado a su familia y a su trabajo. Desde hace cinco años creó en conjunto con su esposa una tienda dedicada a la venta de insumos para ebanistería y latonería, como medio alternativo para generar ingresos para el sostenimiento de su núcleo familiar. Asegura que el bienestar de su hijo y esposa son su principal prioridad por lo cual labora diariamente con el fin de garantizarles una mejor calidad de vida.
En la actualidad se encuentra solicitando un crédito que invertirá en la compra de surtido con el fin de satisfacer el nivel de demanda y aumentar la rentabilidad de su negocio.
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.