Eduardo Albeiro is a hardworking man who has been an independent merchant all his working life. He’s had different businesses such as convenience stores, auto part stores, and he currently makes acrylic items. He has one employee and it was he who taught him. He works from 8:00 am to 7:00 pm and this is now he earns enough to support his household.
He is asking for a second loan so he can buy supplies and merchandise in quantity, so he can stock his business and have a good selection of merchandise to satisfy his customer demand, which increases over the Christmas season. This way he can increase his income. Eduardo wants to be able to get ahead and strengthen and expand his business, in order that he can create more employment opportunities. This will mean a better quality of life, not only for him and his family, but also for others who do this hard work.
Albeiro es un hombre trabajador que, durante su vida productiva se ha dedicado a trabajar como comerciante independiente, ha tenido diversos negocios como tiendas de abarrotes, almacén de repuestos para vehículos, entre otros y, actualmente se dedica a fabricar artículos en acrílico, trabaja con un empleado directo que fue quien le enseñó esta actividad, su horario de trabajo es de 8:00 am a 7:00 pm y, de esta manera genera los recursos suficientes para llevar el sustento a su hogar. Actualmente solicita su segundo ciclo de crédito con el que desea comprar insumos y mercancía al por mayor, con el fin de apalancar su negocio y tener buen surtido para satisfacer la demanda que incrementa en la temporada de navidad, lo que le permitirá aumentar los ingresos que recibe por su labor. Eduardo sueña con poder seguir luchando arduamente para fortalecer y ampliar su negocio, que le permita generar más oportunidades de empleo, lo que para él significa mejorar la calidad de vida, no sólo de su familia, sino también la de las personas que influyan en esta ardua labor.
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.