Gonzalo is 63 years old and is separated with 7 children. For about 2 years he has had a small business running a mobile stall where he sells cakes, sweets, coffee, juices, mobile phone credit and other items and by doing this he has generated an income to support his family. He works every day from 4am to 3pm, which has made him well known in his area and has enabled him to get good results, since he is situated in a very busy street of the city where he lives.
Gonzalo says his age is no hindrance to carrying on working, since he likes to feel useful and to be able to provide the daily necessities himself. This leads him to ask for a second loan, with the aim of buying stock wholesale (cakes, sweets, biscuits, coffee and other items). With this he will be able to continue with his business, satisfying his customers' needs and preferences and thus improving his daily income. He hopes to continue building up his business so that it guarantees him economic stability and in the near future he hopes to be able to enjoy the fruits of all his hard work.
Gonzalo, a sus 63 años de edad, es separado y padre de 7 hijos. Hace aproximadamente 2 años, se dedica a atender su pequeño negocio una chaza ambulante donde vende mecato, confitería, café, jugos, minutos a celular, entre otros, con lo que ha generado ingresos para el sustento de su familia. Trabaja diariamente desde las 4:00 am hasta las 3:00 pm, lo que le ha permitido ser reconocido en sector y le ha permitido obtener buenos resultados, pues se encuentra ubicado en una calle muy concurrida de la ciudad donde reside. El cliente manifiesta que su edad no es impedimento para seguir trabajando, pues le gusta sentirse útil y conseguir el sustento diario por cuenta propia. Esto lo lleva a solicitar un segundo ciclo crediticio, con el fin de invertirlo en la compra de surtido al por mayor (mecato, confitería, galleterìa, café, entre otros) con esto podrá seguir con su negocio, satisfaciendo las necesidades y gustos de los clientes y mejorando así, su nivel de ingresos diarios, con los cuales espera seguir fortaleciendo su negocio para que le garantice una estabilidad económica y, en un futuro cercano poder disfrutar los frutos de su ardua labor.
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.