Julian is 21 years old and is passionate about the world of business. When he finished high school, he decided to start his own business with the help of his parents. Today he has a gift store, which he says has been well received in his municipality. For this reason he is requesting a loan to buy more stock for his store, including stuffed animals, stationary sets and chocolates, as well as a computer. His objective is to increase the variety of his inventory and offer his customers a better service.
Julian dreams of entering the university and beginning studies in business administration, but he is aware that for this he must work hard and save the money for his tuition.
Julian es un joven de 21 años de edad, al que le apasiona el mundo de los negocios. Al terminar de su bachillerato decidió crear su propio negocio gracias a la ayuda de sus padres. Hoy cuenta con una tienda de sentimientos, la cual afirma ha tenido una buena acogida en su municipio, razón por la cual se encuentra solicitando un crédito que invertirá en la compra de surtido y un computador con el fin de ampliar su portafolio de productos y garantizarles a sus clientes una mejor prestación del servicio.
Sueña con ingresar a la universidad e iniciar sus estudios en administración pero es conciente que para ello debe laborar fuertemente y reunir el dinero necesario para el pago de los semestres.
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.