Juan David, at his 28 years of age, is a young entrepreneur. A few months ago he began his business working to sell products for household use. His goal is to become independent and to improve the economic condition of his family.
With the aim of purchasing general merchandise and increasing sales, he is asking for a loan due to his lack of capital. He is certain that his investment will allow him to increase his clients and his income.
He dreams of seeing his business grow, positioning him in the sector and offering his 6 month old son a good chance for development.
Juan David a sus 28 años de edad es un joven emprendedor. Hace algunos meses inició su negocio dedicado a la venta de productos de la canasta familia, con el objetivo de independizarse y mejorar la condición económica de su familia.
Con el fin de comprar surtido en general y aumentar las ventas, se encuentra solicitando un crédito, debido a su carencia de capital. Asegura que dicha inversión le permitirá aumentar su número de clientes e ingresos.
Sueña con ver crecer su negocio, posicionarlo en el sector y ofrecerle a su hijo de 6 meses de edad un buen desarrollo.
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.