Guillermo’s a 43-year-old single man with no children. He currently works tending to his business, a bar he opened about 18 months ago. Though having no experience in this activity he’s managed it well and has gained experience and knowledge simply because economic need motivated him to become independent and seek options to get ahead. In addition, he complements the bar business with fast-food sales to increase his profits.
He’s requesting the loan to do some site improvements because he must do some improvements to the locale and to paint it to improve its image and attract more customers that way that will increase sales and thus his profits. In this way he will continue striving to reach his dream of having his business in a site of his own that will lead him to have better quality of life.
Guillermo es un hombre de 43 años de edad, es soltero y no tiene hijos. Actualmente se dedica a atender su negocio, un bar que inició hace aproximadamente 18 meses, aún sin tener experiencia en esta actividad lo ha manejado bien y ha adquirido experiencia y conocimiento, simplemente porque la necesidad económica lo motivó a independizarse y buscar opciones para salir adelante, adicionalmente, complementa la actividad en el bar con la venta de comidas rápidas para aumentar el nivel de utilidades. El titular solicita el crédito para invertirlo en la mejora de su negocio, pues debe hacer unas mejoras en el local y pintarlo, para darle una mejor imagen y así atraer más clientes, que aumenten sus ventas y por ende sus ingresos, de esta manera podrá seguir luchando para cumplir el sueño de tener su negocio en un local propio, que le permita tener una mejor calidad 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.