Rubén is 58 years old, separated, and has two children. He works as an announcer in the local radio station of his town, but for six months now he has also been working at his own business, an optical store. He says he learned this work from a friend. Rubén says that both jobs have generated enough money to provide for his children and to pay for the basic necessities of his family, which he must do by himself. The field partner describes Rubén as entrepreneurial, responsible, and dedicated to his work.
Rubén is requesting this loan to buy stock such as lenses, frames and cases at wholesale prices. He would like to take advantage of the discounts that are available when buying in cash. He would also like to have a variety of products available to satisfy the tastes and needs of his customers, which he says will provide him with a better profit margin on each sale he makes. This will help him realize his greatest dream, which is to buy his own retail space for his business, and to give his children a better quality of life and an excellent education.
Rubén, a sus 58 años de edad es separado y tiene 2 hijos. Actualmente labora como locutor en la emisora local del pueblo donde reside, pero, desde hace 6 meses, alterna su empleo atendiendo su negocio propio, una óptica. Esta actividad la conoció gracias a un amigo; ambas labores le han generado los recursos suficientes para sacar adelante a sus hijos y para solventar las necesidades básicas del hogar, ya que sólo él lleva la carga económica de la familia. El cliente es un señor emprendedor, responsable, dedicado al cumplimiento de sus labores. Actualmente solicita el apoyo del crédito, para invertirlo en la compra de surtido al por mayor (lentes, monturas;estuches para los lentes), con el fin de aprovechar los descuentos que obtiene por comprar de contado y para tener variedad de productos disponibles, para satisfacer los gustos y necesidades de sus clientes, lo que le permitirá tener mejor margen de ganancia por cada venta que realice. Esto le permitirá avanzar hacia el cumplimiento de su principal sueño, que es adquirir un local propio para montar su negocio y así brindar a sus hijos una mejor calidad de vida y una excelente educación.
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.