Sebastián is a young businessman of 22 whose lack of financial resources prevented him from attending university after graduating from high school. He therefore looked for a job, but had trouble finding one due to his lack of work experience and a college education.
Sebastián took the initiative to to start his own business selling merchandise in order to earn an income and support his family and help it meet the household budget. Starting his own business prompted Sebastián to apply for a loan so that he can purchase wholesale clothing, footwear, and personal care products that he can then sell retail. Sebastián has a wide circle of friends to whom he can sell these goods and start a profitable business.
Sebastián says that his short-term goal is to strengthen his business, introducing new merchandise in order to expand his market. In the medium-term, Sebastián hopes to become a large-scale distributor of goods, making his business more profitable so that he can offer his family a better quality of life.
Sebastián es un joven emprendedor de 22 años de edad, que luego de culminar sus estudios secundarios no tuvo la oportunidad de realizar su carrera universitaria por cuestiones económicas; esto lo llevó a buscar oportunidades de empleo, pero por la falta de experiencia laboral y por no poseer estudios le ha sido difícil comenzar a trabajar. Con el ánimo de generar ingresos para apoyar a su familia con los gastos económicos del hogar, tomó la iniciativa de emprender su propio negocio de venta de mercancía; razón que lo impulsa a buscar el apoyo del crédito; el dinero será invertido en la compra de ropa, calzado y productos de aseo personal al por mayor, para comenzar a ofrecerlos para la venta y, aprovechar la ventaja de poseer un amplio círculo social en el que podrá vender sus productos y así dar inicio a su proyecto productivo.
Sebastián manifiesta que su propósito para un futuro a corto plazo es fortalecer su negocio, introduciendo nueva mercancía para ampliar su mercado y, a mediano plazo convertirse en un gran distribuidor de mercancía; lo que le generará una mayor rentabilidad y podrá ofrecer a su familia una mejor calidad de vida.
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.