Ezequiel, 67, works making and selling artisanal detergents in his community; he’s done so for more than 15 years. He started this work because he needed to generate income to support his family group.
He’s currently having cash-flow problems because some of his customers haven’t been able to pay him which is why he’s asking for a loan to buy raw materials and ingredients to continue with his commercial activity. One of his greatest dreams is to acquire a house and to guarantee better life opportunities for his family.
Ezequiel, de 67 años de edad, se dedica a la fabricación artesanal y comercialización de detergentes en su localidad, desde hace más de 15 años. Labor que inició debido a la necesidad de generar ingresos para el sostenimiento de su grupo familiar.
En la actualidad viene presentando problemas de liquidez, debido a que algunos de sus clientes no han podido cancelarle. Motivo que lo ha conducido a solicitar un crédito que invertirá en la compra de materia prima e insumos, con el fin de continuar con el desarrollo de su actividad comercial.
Uno de sus mayores sueños es adquirir una vivienda y garantizarle a su familia mejores oportunidades de vida.
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.