Elías is a young man of 22. He works selling cleaning products from his home, which he started doing 2 years ago, thanks to his mother who taught him the business. The idea came about when his family were going through a financially precarious time, since they did not have a stable income to pay for necessities and basic household expenses.
Elías is an active and dynamic man, with an enterprising spirit which helps him to get ahead. He decided to ask for the help of a second loan with the aim of investing it in buying stock in bulk (brooms and mops) to take advantage of the discount he gets for cash payments. This will allow him to acquire merchandise at a lower cost and so increase the profit margin on his sales, meaning that he will then earn a larger income for his family.
Elías dreams of strengthening and expanding his business so that in the future he can acquire premises in the centre of the city and set up his business there. This would mean that he could better display his products and attract more customers, which would increase sales. In turn, this would mean that he could make his family more comfortable and offer them a better a quality of life.
Elías es un joven de 22 años de edad que se dedica a comercializar productos de aseo desde su casa, actividad que inició desde hace 2 años, gracias a que su madre le enseñó la labor. La idea surgió cuando su familia atravesaba una situación económica precaria, pues no contaban con una entrada de dinero estable para solventar las necesidades y gastos básicos de su hogar. El cliente es un hombre activo, dinámico, con un espíritu emprendedor que lo ayuda a salir adelante. Se motiva a solicitar el apoyo de un segundo ciclo crediticio con el ánimo de invertirlo en la compra de surtido al por mayor (escobas y traperos) para aprovechar el descuento que recibe por compras de contado, lo que le permite adquirir la mercancía a menor costo y por ende aumentar el margen de ganancia en las ventas, lo que significa generar mejores ingresos para su familia. Elías sueña con fortalecer su negocio y hacerlo crecer para que en un futuro pueda adquirir un local en el centro de la ciudad y montar allí su negocio para exhibir mejor sus productos y atraer más clientela, que le aumente sus ventas. Así tendrá la oportunidad de ofrecer a su familia un mejor bienestar 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.