Iván is 60 years old. He has worked in his own store for more than 8 years, after a reduction in personal when he was laid off. This motivated him to start his own business and get his family ahead. Right now, he is asking for a loan to invest in buying staple products with the purpose of improving his inventory. This will increase his customers' loyalty and improve his income, which will contribute to a better quality of life in his home.
He affirms that although his financial condition is an important factor for his stability, what guarantees his happiness is the love of his family.
Iván de 60 años de edad, trabaja en su propia tienda desde hace más de 8 años, después de un recorte de personal en el que salió despedido. Razón que lo motivó a crear su propio negocio y sacar su familia adelante. Actualmente se encuentra solicitando un crédito que invertirá en la compra de productos de la canasta familiar con el propósito de mejorar su inventario, aumentando la fidelización de sus clientes y mejorando sus ingresos, lo que contribuirá a mejorar la calidad de vida en su hogar.
Asegura que aunque la condición económica es un factor importante para su estabilidad, quien garantiza su felicidad es el amor de su familia.
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.