Juan, 20, is a man with big dreams and projects to complete. He decided to set up his own business so he could generate income to support his mother. He opened a locale to sell grilled chicken and beverages, a business that has been well received in the community.
Now he dreams of offering delivery service so he can increase his sales and improve his service. This has motivated him to request a loan to buy a motorcycle, because he doesn't have his own resources.
His biggest dream is to begin his university education and give his mother a decent quality of life.
Juan de 20 años de edad, es un hombre con grandes sueños y proyectos por cumplir. Con el fin de generar ingresos para el sostenimiento de su madre, decidió emprender su proyecto de empresa y abrió un local dedicado a la venta de pollo asado y bebidas. Negocio que tenido una gran aceptación por parte de la comunidad. Hoy sueña con prestar el servicio a domicilio con el fin de aumentar sus ventas y ofrecer un mejor servicio. Razones que lo han motivado a solicitar un crédito para la compra de una motocicleta ya que no cuenta con recursos propios.
Su mayor sueño es iniciar sus estudios universitarios y garantizarle a su madre una calidad de vida digna.
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.