Clímaco, 42 years old, is an entrepreneur. He started his business of selling sweets in the streets of the city and later learned to make bocadillos (guava pastries), which is why he began making those, which he sells in stores, supermarkets, and door to door in his area and surrounding municipalities.
He has had very good reception, which is why he says his main goal is to expand his business, and for this, he finds himself requesting a loan that he will use to purchase basic materials and ingredients (guava, sugar, wrappings).
One of his biggest dreams is to give his three children better opportunities in life and guarantee them a quality education.
Clímaco de 42 años de edad, es un emprendedor. Inició su actividad comercial vendiendo dulces en las calles de la ciudad y posteriormente se capacitó en la elaboración de bocadillos, por lo cual se dedicó a la elaboración de este producto, el cual comercializa en tiendas, supermercados y puerta a puerta en su localidad y municipio aledaños.
Han tenido muy buena acogida, por lo cual asegura que su principal reto es expandir su negocio y para ello se encuentra solicitando un crédito que invertirá en la compra de materia prima e insumos (guayaba, azúcar, empaques).
Uno de sus mayores sueños es brindarles a sus tres hijos mejores oportunidades de vida y garantizarles educación de calidad.
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.