With the goal of increasing his income and managing his own time, Luis would like to become independent and open his own business selling cell phone equipment and accessories. He is already leasing a location, but he needs the support of a this loan, which he requests so that he can buy fixed assets (windows and display cases), merchandise (screen protectors, headphones, batteries, cell phone equipment) and make improvements to his stand (paint the walls). This way, he will be able to start his business, give it a pleasant appearance, and offer a great variety of merchandise. He will also be able to provide service and repairs of cell phones. All of this will generate resources so that he will be able to continue to progress.
Luis dreams of growing his business and converting it into a distributor that will generate jobs. He knows that, to achieve this, he will need to work with care and great dedication. In this way, he will create a successful future that will give him the ability to improve his and his family's quality of life.
More information about this loan
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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