Some time ago, he moved with his family from his native city to seek out new opportunities to get ahead and to be closer to some relatives. During his professional life he worked for a finance company and he started an internet café on the side to make more money and ensure his family's wellbeing.
He has more than 15 years of experience, which motivated him to start the same business with his wife (see photo), which will be located in the house where he lives with his family. He has purchased all the computer equipment and printers with savings, but he wants to include stationery products for his customers to buy, which require some display cases, stationery supplies, and snacks, soda, candy, and other things. This will allow him to restart his business and generate income for his family.
Gustavo tells us that his greatest wish is to set up his business well and to establish it in the area so that it is known, profitable, and allows him to enjoy a better quality of life in the company of his family.
Gustavo manifiesta que su mayor anhelo es poder acreditar bien su negocio y consolidarlo en la zona, para que sea reconocido, rentable y le permita disfrutar una mejor calidad de vida en compañía de su grupo familiar.
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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