Joaquin, 38, is driven and hard-working and is the owner of a grocery shop. This is situated on the access road of the area where he lives, so there is a large number of people passing every day and this benefits his business sales. He also has no competition nearby, which guarantees him a permanent source of income, however small it may be.
Joaquin will use the requested loan to buy stock wholesale (rice, oil, dairy products, fizzy drinks, beer and other items). This will enable him to stock his shop with a wider range of products and so satisfy the tastes and requirements of his customers. This will significantly improve his sales and income.
Joaquin says his main wish is to be able to improve his family's quality of life (he has a wife and 3 children) and to establish his business in the long term. This will provide an income which will give him financial stability so he can give his children a better education.
Joaquin es un hombre pujante y trabajador de 38 años de edad, dueño de una tienda de abarrotes que se encuentra ubicada en la vía de acceso al barrio donde reside, por lo que diariamente se ve gran flujo de personas y le beneficia las ventas en el negocio, además no posee competencia cercana, lo que garantiza una entrada de recursos permanente, por más mínima que sea.
El crédito solicitado lo invertirá en la compra de surtido al por mayor (arroz, aceite, lácteos, gaseosas, cerveza, entre otros), esto le permitirá abastecer su inventario con más variedad de artículos para ofrecer, así podrá satisfacer los gustos y necesidades de sus clientes y mejorará notablemente las ventas e ingresos.
Joaquin manifiesta que su mayor anhelo es poder mejorar la calidad de vida de su familia, conformada por su esposa y sus 3 hijos, y lograr que su negocio tenga una permanencia en el tiempo, generando recursos que le garanticen una estabilidad económica favorable para dar mejor educación a sus hijos.
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.