Luis, 60 years old, is a microentrepreneurer. He makes a living selling household goods. With more than 20 years of experience in this business, Don Luis is recognized as a generous and honest man, values that have made him thrive in his area. Thanks to his business he has been able to provide a better quality of life for his family.
Today he hopes to enlarge his business and make a better income, and is therefore requesting a loan to purchase a variety of items. He would like to see his family together and without economic concerns.
Luis de 60 años de edad es un microempresario, dedicado a la venta de productos de la canasta familiar. Con más de 20 años de experiencia en el sector, don Luis es reconocido como un hombre generoso y honesto, valores que lo han hecho crecer dentro del sector. Gracias a su negocio ha podido brindarle a su familia mejores condiciones de vida. Hoy sueña ampliar su negocio y obtener mejores ingresos, por lo cual se encuentra solicitando un crédito para la compra de surtido.
Desea poder ver a su familia unida y sin carencias de tipo económico.
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.