Mauricio is an enterprising and dynamic young man. His idea stems from the financial crisis his family is going through, since his wife is unemployed and the salary he earns is not enough to cover their basic household expenses.
He has already leased a commercial space for his business (seen pictured). The space will be good for the type of business he has in mind, because it has a security door with bars and his schedule will be from the afternoons until early mornings. He will also be able to make the most of his wife's help in running the business.
For this reason, he is requesting a loan in order to purchase fixed assets (cooler, shelves, sound system, and other items) and wholesale stock (beer, snacks, domestic liquor, domestic and imported sweets, and other items).
This will allow him to start up his business venture, which he expects will generate good results so that he can achieve his dream of becoming completely independent and working solely on his business. He wants to build on it little by little so that it becomes well-known in the area. This will give him the chance to enjoy a better quality of life and spend more time in the company of his family.
More information about this loan
By supporting this loan, you're helping a borrower launch a new business!
This loan is designed for an entrepreneur who needs working capital to start a brand new business. Along with the loan, Kiva's field partner Interactuar provides counseling, training courses, and other financial resources to help new, riskier entrepreneurs set up young businesses.
Important InformationThis 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.
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This loan has been fully funded!