Gildardo started his business five years ago in order to give himself work, because he needed to earn income to feed and educate his son. At the beginning he started by helping a friend with a fast food spot, and four months ago he went off on his own and he thinks he has been well accepted by the customers.
In order to keep growing within the food sector, he is asking for a loan that he will invest in buying a fast food cart, a grill and some merchandise. He dreams of having his own locale and increasing his sales in the near future.
Gildardo, inició su negocio hace cinco años con el fin de autoemplearse, debido a que necesitaba generar los recursos necesarios para la alimentación y la educación de su hijo. En un principio inició ayudándole a un amigo en un puesto de comidas rápidas, y desde hace cuatro meses se independizó y siente que ha tenido muy buena acogida por parte de sus clientes.
Con el fin de seguir creciendo dentro del sector de alimentos, se encuentra solicitando un crédito que invertirá en la compra de un carro de comidas rápidas, una parrilla y surtido.
Sueña en un futuro cercano tener su propio local y aumentar su nivel de ventas.
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.