Álvaro, 37, is a warrior who has learned from life that success isn’t often reached on the first attempt but that despite circumstances to fight is the only alternative that leads to a better path. Having lost his job as a result of personnel cutbacks at the firm he was employed at, he saw how his family’s quality of life was declining. This was a situation that motivated him to work for himself and create his own business selling desserts. Now, he’s grateful to life for the immense gift it’s offered him in having a beautiful family and a business of his own. Aiming at continuing to grow in the sector and to offer quality service, Álvaro is asking for a loan to buy a cooler, four tables and 16 chairs because he does not have resources of his own to do so.
Álvaro de 37 años de edad, es un guerrero, al que la vida le ha enseñado que el éxito muchas veces no se logra en el primer intento, pero que a pesar de las circunstancias luchar es única alternativa para encontrar un mejor camino. Después de quedarse sin empleo debido a un recorte de personal en la empresa en donde laboraba, este hombre vio como la calidad de vida en su hogar desmejoraba, situación que lo motivó a subemplearse y a crear su propio negocio dedicado a la venta de postres. Hoy agradece a la vida por el inmenso regalo que le ha ofrecido, al contar con una bella familia y un negocio propio.
Con el fin de seguir creciendo dentro del sector y ofrecer un servicio de calidad, Álvaro se encuentra solicitando un crédito que invertirá en la compra de un enfriador, cuatro mesas y 16 sillas, debido a que no cuenta con los recursos propios.
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.