He will put together a gourmet express type of restaurant, an idea that sprung from the need to satisfy the tastes and needs of the people who travel through the area where he lives. In order to achieve this, he has already obtained the store property and requires the support of a loan to invest in the purchase of fixed assets (fridge, oven, roaster, and for kitchen setup: pots, cutlery, tableware, and other kitchen utensils), to make adjustments to the premises, and to buy wholesale products (vegetables, meat, pasta, sodas).
This way, he will be able to begin his business project, with the idea of obtaining clients that help make his business site recognized as much for the quality of its food as for the service it offers. Cristian knows that to succeed with this project, he must work with dedication, discipline and care. Only then will he make his idea a profitable business that generates a good income for him and guarantees him economic stability to offer his family a better quality of life and well-being.
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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