Alexis, 29, is single. He’s had a video games business for the last three years where he offers children and youngsters the opportunity to have fun in his business. Alexis works along in his business and is open to the public every day from 8 in the morning until 9 at night.
The loan will be earmarked to strengthen the business with the purchase of equipment (three television sets and three PlayStations). Alexis’ dream is to have a well-equipped video games salon that’s well-known throughout the neighborhood; he’d also like to have a business selling lights.
Alexis es soltero y tiene 29 años. Hace tres años tiene un negocio de Videojuegos, donde le brinda la oportunidad a niños y jóvenes de divertirse en su negocio. Alexis trabaja solo en su negocio y está abierto al público todos los días de ocho de la mañana a nueve de la noche. El crédito será destinado al fortalecimiento de su negocio con compra de equipos (tres televisores y tres PlayStation). El sueño de Alexis es tener una sala de Videojuegos bien dotada que sea reconocida en todo el barrio, además quisiera tener un negocio de venta de luces.
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.