Christian Camilo is a young man of 22; he is single and doesn’t have children yet. Since he was little he has liked business, because he was brought up in this environment helping his father in his variety store. He is an enterprising and hardworking young man, and in order to reach his personal goals he decided to become independent and start his own business in a section of his father’s store, offering a variety of products such as furniture, toys, small appliances, accessories, stuffed animals, small gifts, etc.
He wants to invest the loan in more merchandise, such as small appliances (irons, hair dryers, ovens, electric sandwich makers), furniture, and other items according to the products that his customers ask him for. His biggest dream is to continue with his project and grow his business with his own store location.
Christian Camilo es un joven de 22 años de edad, es soltero y aún no tiene hijos. Desde pequeño le ha gustado la actividad del comercio ya que se ha criado en ese ambiente debido a que le colaborara a su padre en el almacén de variedades. Es un joven emprendedor y trabajador, y con el fin de lograr sus metas personales decidió independizarse y montar su propio negocio en una sección del almacén de su padre; ofreciendo diversidad de productos como muebles, juguetes, electrodomésticos pequeños, accesorios, peluches y detalles entre otros. El crédito lo desea invertir en la compra de más surtido como electrodomésticos pequeños (planchas, secadores, hornos, sanducheras), muebles entre otros, de acuerdo a los productos que sus clientes le solicitan. Su mayor sueño es continuar con su proyecto y hacer crecer su negocio con un local propio.
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.