Jhon Jairo, 52, has lived in de San Luis, Colombia, all his life. Some years age, he decided to open a business so that he could support his family, which comprises his wife and son. He works alone in a small cafeteria, which he build through hard work and sacrifice. His business is well known, due to its strategic location and good service.
His biggest dream is to expand his business so that he can service more customers; therefore, he has applied for a loan to remodel and buy inventory. He hopes to send his son to college.
Jhon Jairo de 52 años de edad, ha vivido toda su vida en el municipio de San Luis, Colombia. Desde hace algunos años decidió montar su propio negocio como medio de sostenimiento para su familia, compuesta por su esposa y su hijo.
Labora como independiente, en una pequeña cafetería que construyó con esfuerzo y sacrificio. En la actualidad su negocio es muy conocido, debido a su ubicación estratégica y a la calidad en el servicio. Su mayor sueño es ampliar su negocio con el fin de aumentar el número de clientes, razón por la cual se encuentra solicitando un crédito que invertirá en adecuaciones locativas y la compra de surtido.
Espera brindarle a su hijo el acceso a la educación superior.
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.