Juan is married and has two children. He is confident and enterprising man who works as a salesman in a store. The owner has given him the opportunity to buy the store and pay it off in increments. Juan decided to buy it and make monthly payments. He sells grains, dairy, vegetables, etc. Juan’s dream is to be able to expand his business and buy merchandise (cookies, pastries, toiletries, grains) to satisfy his customers. He works alone because he is not able to hire a salesman. He also sees his business as being very successful and offering high quality products. This will result in an increase income and make it possible to better support his family.
Juan, casado y tiene dos hijos, es una persona de emprendimiento y confianza en sí mismo, laboraba en una tienda como vendedor de mostrador, el dueño de la misma le ofreció una oportunidad de progreso al brindarle la tienda para que la cancelara a plazos, en vista de esto Juan se puso a la tarea de sacar adelante su negocio y empezar a cubrir la deuda mes a mes, en la tienda se distribuyen granos, lácteos, verduras, etc; el sueño de Juan es poder ampliar su negocio y comprar mercancía (galletería, mecato, productos de aseo, granos) para satisfacer a sus clientes, en la actualidad trabaja solo porque no tiene capacidad para contratar a un vendedor de mostrado, también visiona su negocio con mucho éxito y ofreciendo productos de alta calidad, esto da como resultado el incremento de los ingresos y por ende sustentar a su familia de una forma solvente, y con más tranquilidad.
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.