Pedro, age 52, is married and has five children. Throughout his productive life he has worked as a caretaker at different residences. However, in order to take advantage of an opportunity to become independent, he decided to retire from his employment. With his severance pay and some savings he bought a grocery story that was his father’s. His father, being elderly, decided to return to his native town to spend the last years of his life.
He works every day of the week from 8:00 a.m. until 10:00 p.m. He does this to take maximum advantage of the advantages he has of being very well located. His neighbors generally consume his products daily. The other advantage is the time he has in the market because it has been his property for 19 years.
The client is a charismatic and vigorous man who is dedicated to his family and his work. He is always looking for new alternatives that will allow him to get ahead. That is why he is motivated to request a loan. With the loan he intends to fix the motor of a cooler and to buy stock wholesale (snacks, dairy products, meats, eggs, grains, pastas, and soft drinks, among others). This will allow him to improve the condition of his assets, and he will be able to offer a greater variety of products. He will also satisfy his customers’ needs and preferences. As a result his sales will increase as well as the income he gets from his work.
Pedro wishes to continue working arduously in order to keep his business functioning and to manage to continue being profitable and long-lasting throughout time. He wishes to continue supporting his children’s education. He dreams of seeing them graduate as professionals. He also dreams of enjoying a better quality of life and well-being in the company of his loved ones.
Pedro, con 52 años de edad, es casado y padre de 5 hijos. Durante su vida productiva se ha dedicado a trabajar como vigilante en diferentes unidades residenciales, pero con el fin de aprovechar una oportunidad de independizarse, decidió retirarse de su empleo y, con el dinero de la liquidación y algunos ahorros compró una tienda de abarrotes que era propiedad de su padre quien ya entrado en una edad avanzada decidió devolverse para su pueblo natal a pasar sus últimos años de vida. Trabaja todos los días de la semana de 8:00 am a 10:00 pm para aprovechar al máximo las ventajas que posee de estar muy bien ubicado, que sus vecinos generalmente consumen a diario sus productos y la trayectoria que tiene en el mercado, pues ya es de su propiedad hace 19 años. El cliente es un hombre carismático, pujante y dedicado a su familia y a su labor, siempre busca nuevas alternativas que le permitan salir adelante y por ello se motiva a solicitar el crédito, con el que pretende arreglar el motor de un enfriador y comprar surtido al por mayor (mecato, lácteos, cárnicos, huevos, granos, pastas, gaseosas, entre otros), esto le permitirá mejorar las condiciones de su activos y podrá ofrecer más variedad de productos y satisfacer los gustos y necesidades de su clientela, lo que dará como resultado un incremento en sus ventas y en los ingresos que recibe por su labor. Pedro desea seguir trabajando arduamente para mantener su negocio en funcionamiento y lograr que siga siendo rentable y perdurable en el tiempo, y seguir apoyando a sus hijos en sus estudios, pues sueña con verlos graduados como profesionales y disfrutar de una mejor calidad de vida y bienestar en compañía de los que ama.
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.