One goal is to start his own business, distributing soft drinks for a brand with worldwide recognition, and the owner and boss of the distributor for whom he currently works is willing to lend him the space to warehouse his products. This is the motivation for seeking the loan, which will be used to purchase soft drinks at wholesale price in a variety of sizes and flavors. He will be able to take advantage of the brand's name recognition and customer demand, and thus be able to earn greater income and continue managing the household expenses. Cristian dreams of one day taking his business completely independent, financing it so that it is profitable and allows him to provide his mother a greater wellbeing and quality of life.
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By supporting this loan, you're helping a borrower launch a new business!
This loan is designed for an entrepreneur who needs working capital to start a brand new business. Along with the loan, Kiva's field partner Interactuar provides counseling, training courses, and other financial resources to help new, riskier entrepreneurs set up young businesses.
Important InformationThis 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.
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