Billy is 28 years old, married and the father of a six-year-old son. For several years he worked as an employee in a store that sold piñatas, but two months ago decided to go out on his own and set up his own business. There he offers all kinds of toys, as well as items for babies and children. He works every day and is generating employment. The client is an energetic, vigorous man, and has an enterprising spirit which has enabled him to achieve his objectives.
Currently he is requesting the loan with the intent of investing in merchandise at wholesale (toys and items for babies and children), and this way he will have a greater variety of products available to sell, to satisfy the tastes and needs of his customers.
Billy dreams of having his own shop where he can carry on his business and generate better income. This will allow him to help his family get ahead in life, providing them with better living conditions and for his son, an excellent education.
Billy, a sus 28 años de edad, es casado y padre de un hijo de 6 años. Durante varios años trabajó como empleado en una piñatería, pero, desde hace 2 meses decidió independizarse y montar su propio negocio, allí ofrece todo tipo de juguetería y artículos para bebés y niños, trabaja todos los días y está generando empleo. El cliente es un hombre activo, pujante y tiene un espíritu emprendedor que lo ha llevado a conseguir sus objetivos. Actualmente solicita el crédito con el ánimo de invertirlo en mercancía al por mayor (juguetes y artículos para bebés y niños), de esta manera tendrá más variedad de productos disponibles para la venta con lo que podrá satisfacer los gustos y necesidades de sus clientes. Billy sueña con tener un local propio en el que pueda desarrollar su actividad y así generar mejores ingresos que le permitan sacar adelante a su familia, ofreciéndoles mejores condiciones de vida y una excelente educación a su pequeño hijo.
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.