José, aged 51, is separated and is the father of 2 children.
For the past 26 years he has earned a living as an independent vendor. He has a cart where he sells snacks, confectionery, soft drinks, and other items. It is located in the main park of the town where he lives, and so he has a large clientele. He also provides a shoe shine service, which supplements his income to help support his children. He learned this trade from his father, who had a cart for 30 years.
José is a humble, charismatic and friendly man who struggles untiringly, enduring adversity and the changes in the weather, in order to give his family a better quality of life.
He is currently applying for a loan to purchase an assortment of goods wholesale (snacks, candy, gum, soft drinks). This will allow him to increase his profit margin, because he will be able to buy the products at a lower cost, and thus, will increase his income.
José dreams of being able to acquire a locale to set up his business to provide better service. This would mean he would no longer work as a street vendor and he would avoid the risks to which he is exposed on the street. He will continue to work to give his children a better quality of life.
José, a sus 51 años de edad, es separado y padre de 2 hijos. Desde hace 26 años se dedica a trabajar como comerciante independiente, pues tiene una chaza donde vende mecato, confitería, gaseosas, entre otros, se ubica en el parque principal del pueblo donde reside, por lo que tiene muy buena clientela, adicionalmente presta el servicio de lustrabotas, con lo que complementa sus ingresos para dar el sustento a sus hijos. Esta actividad la aprendió de su padre, quien tuvo chaza durante 30 años. El cliente es un hombre humilde, carismático y amable, lucha incansablemente, soportando las adversidades y los cambios climáticos con tal de dar un mejor bienestar a su familia. Actualmente solicita el crédito con el fin de invertirlo en la compra de surtido al por mayor (mecato, dulces, chicles, gaseosas), de esta manera podrá aumentar su margen de ganancia, pues conseguirá los productos a un menor costo y así se notará el incremento en sus ingresos. José sueña con tener la posibilidad de adquirir un local para montar su negocio y así prestar un mejor servicio, pues dejará de trabajar de manera ambulante y evitará los riesgos a los que está expuesto en la calle, para esto, dice que seguirá trabajando para dar a sus hijos una mejor 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.