José 65 years old. He is a person who can't find a job easily, and because of his financial needs, he started with a small sales stall. It was very well received and due to the great product demand, he decided to open a convenience store where he sells candies, baked goods, beverages, and dairy products. José dreams of expanding his business and making improvements. That is why he has asked for the loan to acquire merchandise (dairy products, cookies, snacks, candies), as well as materials to make improvements on his store (repairing and painting the walls). This will allow him to offer his customers a nice, pleasant place where they can find a variety of economic products. José has the advantage of being well known in the area as a friendly man who is a fighter. Thanks to that, he will have the ability to multiply his income and his quality of life will improve little by little to enjoy a peaceful old age.
José con 65 años de edad, es una persona que no encuentra fácilmente un empleo y, en vista de las necesidades económicas, inició con una chaza la cual tuvo muy buena acogida y debido a la gran demanda de productos, optó por montar una tienda de abarrotes, donde vende dulces, productos de panadería, refrescos, lácteos. José sueña con ampliar su negocio y hacerle adecuaciones, es por esto que solicitó el préstamo para adquirir surtido al por mayor (lácteos, galletería, mecatos, dulcería) y también materiales para hacerle mejoras a su tienda (resanar y pintar las paredes), lo cual le permitirá ofrecer a su clientela un lugar ameno y muy agradable donde pueda encontrar productos variados y económicos. José tiene la ventaja de ser reconocido en el sector por ser una persona muy amable y luchador, y gracias a ello tendrá la capacidad para multiplicar sus ingresos y su nivel de vida irá mejorando poco a poco para disfrutar una vejez tranquila.
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.
A loan of $500 helped José Samuel to acquire merchandise wholesale (dairy products, cookies, snacks, candies) as well as materials to do some improvements on his store (repairing and painting the walls).