Edwin Tobar is 36 years old and a chef. Due to financial difficulties, he left his hometown in search of better opportunities. Nine months ago, he opened a small restaurant, which took off quite well thanks to the tasty dishes served and the amiability of the chef. In order to keep his restaurant growing and have it better positioned on the market, Edwin asks for a loan to buy a bacon-slicing machine. He dreams of making his restaurant a success and of keeping ahead of the curve by constantly improving his skills.
Edwin Tobar de 36 años de edad, es chef de profesión. Debido a dificultades socioeconómicas salio de su ciudad natal para ir en búsqueda de mejores oportunidades de vida. Desde hace nueve meses abrió al público un pequeño restaurante, el cual ha tenido un crecimiento rápido gracias a su sazón y calidad en el servicio.
Con el fin de seguir creciendo y posicionarse en el mercado, Edwin se encuentra solicitando un crédito que invertirá en la compra de una máquina tajadora de tocineta.
Sueña con tener un gran restaurante y seguirse capacitando para estar a la vanguardia.
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.