Elkin Alonso, 26, lives in a common-law marriage with his current partner and has a one-year-old child.
He has made a living selling liquor for four years. He set up his own liquor store with which he has managed to earn income to support his family and pay for the household expenses. He's a hardworking and organized man because he devotes a large part of his day to working in his business, making sure he keeps it organized and well stocked so he can provide excellent customer service.
With the loan he's requesting from the board he wants to buy more stock (liquor, beer, pastries, and sweets).
His only goal is to offer his customers a greater variety, keep products available, and consequently increase his level of sales to generate more monthly income. This will allow him to continue watching over his family's welfare and quality of life.
Elkin Alonso es un hombre de 26 años de edad, vive en unión libre con su actual pareja y tiene un hijo de 1 año. Hace 4 años se dedica al comercio de licores, ya que montó su propia licorera con la cual ha logrado obtener ingresos para el sostenimiento de su familia y suplir los gastos del hogar. Es un hombre trabajador y organizado, ya que dedica gran parte del día a laborar en su negocio, procurando que se mantenga organizado y bien surtido y de esta forma poder brindar una excelente atención a los clientes. Con el crédito que solicita en la Corporación desea comprar más surtido (licor, cerveza, mecato y confitería) con el único fin de ofrecer gran variedad de productos a sus clientes, mantener disponibilidad de productos y, de esta forma aumentar su nivel de ventas, para generar más ingresos mensuales que le permitan seguir velando por el bienestar y la calidad de vida de su familia.
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.