Julio, at 58 years old, makes a living working in his own business - a grocery store that he started because he needed to earn money in order to cover basic household costs. Julio does not have any children who can support him financially and he lives only with his wife, who helps him by working in the business too. Julio works in the shop every day from 7am until 9pm. He offers all types of staple goods and sells supplies and disposable goods to fast food restaurants. So, with this work, Julio earns an income to cover daily costs. Julio is strong, organised and hard working, and, despite his age, he still feels productive and useful. Julio is currently applying for a loan to buy stock (dairy products, meat, disposable goods, eggs, bread, and more) in bulk. This will help him to increase the variety of stock he offers, and to satisfy his customers' needs and wants, allowing him to be more competitive in the local market. This will be reflected in an increase in his income, which he can use to continue supporting his family. He can also continue toward his goal of expanding his shop and adding more products to the variety of stock he already offers. More stock will result in more profitability for his personal finances and, with this, Julio wants to guarantee a better quality of life for his family and to enjoy his old age at his beloved wife's side in peace.
Julio, a sus 58 años de edad, se dedica a trabajar en su propio negocio, una tienda de abarrotes que surgió de la necesidad de adquirir recursos económicos para solventar las necesidades básicas de su hogar, pues no tiene hijos que le colaboren económicamente y sólo vive con su esposa quien le colabora atendiendo el negocio. Allí trabaja todos los días desde las 7:00 am hasta las 9:00 pm, ofrece todo tipo de productos de la canasta familiar y además distribuye insumos y productos desechables para negocios de comidas rápidas, así genera los ingresos para el sustento diario. El titular se caracteriza por ser un hombre pujante, organizado y trabajador, aún sin importar su edad él manifiesta que se siente productivo y útil. Actualmente solicita el crédito con el que desea comprar surtido al por mayor (lácteos, cárnicos, productos desechables, huevos, pan, entre otros), esto le ayudará a aumentar la variedad en sus inventarios y satisfacer las necesidades y gustos de sus compradores, lo que le permite ser más competitivo en el mercado local. Esto se verá reflejado en el aumento de sus ingresos con los que podrá continuar sustentando a su familia y seguir avanzando para cumplir el sueño de ampliar la tienda y aumentar el portafolio de productos para ofrecer, generando mejor rentabilidad para sus finanzas personales, con la que quiere garantizar a su familia una mejor calidad de vida y disfrutar una vejez más tranquila al lado de su amada esposa.
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.