Antonio is thirty-eight years old and is an exemplary father. He has two children who are minors, and they are the light of his existence. He considers his family to be his greatest treasure and the thing that motivates him to get ahead. A few years ago, he created his own business in selling liquor, drinks, and snacks. According to him, this activity is the only source of income for the sustenance of his home.
Today, he is requesting a loan that he will invest in the purchase of supplies, with the final goal to increase his income.
His greatest dream is to grow his ability to sell and thereby guarantee his eldest son, who is seventeen years old, the opportunity to enter the university.
Antonio de 38 años, es un padre ejemplar. Tiene dos hijos menores de edad, los cuales son la luz de su existencia, considera que su familia es su mayor tesoro y el pilar que lo impulsa a salir adelante. Desde hace algunos años creó su propio negocio dedicado a la venta de licor, bebida y mecatos. Actividad que según él se ha convertido en la única fuente de ingresos para el sostenimiento de su hogar. Hoy se encuentra solicitando un crédito que invertirá en la compra de surtido con el fin aumentar sus ingresos.
Su mayor sueño es aumentar su capacidad de venta y garantizarle a su hijo mayor de 17 años de edad la oportunidad de ingresar a la universidad.
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.