Francisco is a 23 year-old young man who is looking for a way to make a good life for himself and help his mother with the household expenses. Following the advice of some friends of his, he decided to start selling clothing - which has allowed him to improve his quality of life.
His greatest wish is to go to college and graduate to become a successful professional.
He is currently requesting a loan to invest in the purchase of merchandise with the aim of increasing his sales and getting enough money together to be able to start his studies.
Francisco es un joven de 23 años de edad, que busca alternativas para salir adelante y colaborarle a su madre con los gastos del hogar. Motivado por algunos amigos decidió dedicarse a la venta de ropa, actividad, que le ha permitido mejorar su calidad de vida.
Su mayor deseo es ingresar a la universidad y graduarse como un gran profesional.
En la actualidad se encuentra solicitando un crédito que invertirá en la compra de mercancía con el fin aumentar sus ventas y reunir el dinero que necesita para comenzar sus estudios.
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.