Luis is a man dedicated to selling domestic electric appliances in different towns in the region where his mother and daughter live. His workday begins very early in the morning when he leaves to the different towns where he has his customers. He is a man who is thriving, active, hard-working and dedicated to his family and his work. Therefore he is motivated to seek loan support as he wishes to invest in buying domestic electric appliances at wholesale (fans, irons, sandwich grills, and others) and with this he will be able to increase his inventory in order to offer more variety and meet his customers' needs, thereby he will increase his sales and from the income he receives from the sales he will continue taking care of his family's well-being. Luis wishes to generate more income that will enable him to have a favorable economic stability in order to provide his daughter and mother better living conditions and better quality of life.
Luis es un hombre dedicado a la venta de electrodomésticos que comercializa en diferentes pueblos de la región donde vive con su madre y su hija; su jornada laboral comienza desde muy temprano en las mañanas cuando sale hacia los diferentes pueblos donde tiene su clientela. El cliente es un señor pujante, activo, trabajador y dedicado a su familia y a su labor, por esto se motiva a solicitar el apoyo del crédito que desea invertir en la compra de electrodomésticos al por mayor (ventiladores, planchas, sanducheras, entre otros) con esto podrá aumentar su inventario para ofrecer más variedad y satisfacer las necesidades de sus clientes, así aumentará sus ventas y los ingresos que recibe de ellas, con los que continuará velando por el bienestar de su familia. Luis desea generar más recursos que le permitan tener una estabilidad económica favorable para brindar a su hija y a su madre mejores condiciones y calidad de vida.
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.