John has been running his own business for about 15 years. He sells products such as snacks, soft drinks, beer and mobile phone minutes. His shop is in a busy, well-known area, which has meant good results, and this allows him to support his family.
He is now asking for a loan to invest in wholesale supplies to buy items such as snacks, sweets, biscuits and soft drinks. This will allow him to obtain supplies for his business to satisfy demand at the approaching end of year, which will help him make better sales and improve his income. John wants to carry on working hard in his business and continue to make enough money to improve life for himself and his family.
John, desde hace aproximadamente 15 años se dedica a atender su propio negocio, donde vende mecato, gaseosas, cervezas, minutos a celular, entre otros, está ubicado en un sector muy reconocido y transitado y, por ello ha tenido buenos resultados, lo que le genera los ingresos suficientes para llevar el sustento a su hogar. Actualmente solicita un crédito con el fin de invertirlo en la compra de surtido al por mayor (mecato, dulces, galletería, gaseosas, entre otros), así abastecerá su negocio para satisfacer la demanda que incrementa en la temporada de fin de año que se aproxima, esto le ayudará a tener mejores ventas e ingresos. John desea seguir trabajando arduamente en su negocio y continuar generando los recursos económicos para poder mejorar sus condiciones de vida y las de su familia.
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.