Duván is 22 years old. He is the owner of a bar that he opened some years ago with his family's help. It is located on the first floor of his house and it is open every day from 5:00 p.m. until the early morning hours of the next day. He alternates between this activity and working in a business. He has his parents' support to manage the business during the time he has to be working his shift. They offer a variety of liquors and he puts on live music shows, since his father is a musician. In this way, he has been able to acquire the resources to ensure his parents' well being, because the financial responsibility falls on him. Right now, he is asking for the loan to invest in doing some improvements on his locale to expand his establishment. This way, he will be able to attract more customers and increase his sales and the income that results from them. Duván is dreaming of making his business grow in such a way that it will guarantee financial stability in order to be able to study marketing and sales and thus make his business be recognized and sustainable over time, in addition to improving his parents' quality of life.
Duván a sus 22 años, es propietario de un bar, que montó hace algunos años con el apoyo de su familia, se encuentra ubicado en el primer piso de su vivienda y abre todos los días desde las 5:00 pm hasta la madrugada del día siguiente, esta actividad la alterna trabajando en una empresa y, cuenta con el apoyo de sus padres para el manejo del negocio en el tiempo que debe cumplir el turno laboral, allí ofrece una variedad de licores y realiza shows de música en vivo, pues su padre es músico. De esta manera ha logrado adquirir los recursos para velar por el bienestar de sus padres, pues la carga económica recae sobre él. Actualmente solicita el crédito para invertirlo en unas adecuaciones locativas para ampliar el establecimiento, así podrá atraer más clientela y aumentará sus ventas y los ingresos que resultan de ellas. Duván sueña con hacer crecer su negocio de tal manera que le garantice una estabilidad económica para poder estudiar mercadeo y ventas y así llevar su negocio a ser reconocido y sostenible en el tiempo, además mejorará la calidad de vida de sus padres.
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.