Bertulfo, 62, lives with his wife and is father of three children. He’s had his own business for nine years selling fried food, roasted chicken, ice-cream and soft-drinks, among others, but due to circumstances beyond his control he had to move to live in a rented house in a new neighborhood two months ago. He reestablished his business there once again but because of this his capital decreased because the move took a few days which led to a drop in inventory and supplies. However, he’s continued working with the few ingredients he has left.
His drive, perseverance and wish to make progress have pushed him to request support from the loan that he wants to use to buy stock merchandise at wholesale (soft-drinks, beer, ice-cream, chicken, snacks, etc.) to be able to increase working capital and continue to strive so his business can remain in operation and allow him to continue watching over his family’s well-being. He also wants to save so that he can get a house of his own in future where he can enjoy a more tranquil old-age and better quality of life in the company of his wife and children.
Bertulfo a sus 62 años de edad, vive con su esposa y es padre de 3 hijos. Durante 9 años ha tenido su propio negocio en el que ofrece alimentos fritos, pollo asado, helados, gaseosas entre otros, pero por cuestiones ajenas a su voluntad, hace 2 meses tuvo que trasladarse para otro barrio a vivir en una casa arrendada en la que reubicó nuevamente su negocio, pero debido a eso, su capital de trabajo disminuyó porque el proceso de traslado se demoró algunos días, afectando así sus inventarios e insumos que disminuyeron, sin embargo ha seguido trabajando con los pocos insumos que le quedan. Su empuje, perseverancia y las ganas de progresar lo han impulsado para solicitar el apoyo del crédito, con el que desea comprar surtido al por mayor (gaseosas, cervezas, helados, pollo, mecato, entre otros), de esta manera podrá aumentar su capital de trabajo y seguirá luchando para que su negocio siga en funcionamiento y le permita continuar velando por el bienestar de su familia, además desea ahorrar para que, en un futuro pueda adquirir una casa propia en la que desea disfrutar de una vejez más tranquila y una mejor calidad de vida en compañía de su esposa y sus hijos.
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.