Jairo is married and has a lot of determination to succeed. He has had a store in a city neighborhood for 4 years. He works from 8 a.m. until 9 p.m.
Jairo dreams of having a bigger store with much inventory (dairy products, drinks, cleaning products, etc) and wants to invest in beer and a variety of liquors to offer his customers and increase his range of products.
With the loan he will stock his store to better manage a sufficient inventory as he gets great deals and benefits when when buying in bulk. This means better sales and income, and therefore a better quality of life for his family.
Jairo es casado y tiene aún mucho tesón para salir adelante, desde hace cuatro años tiene una tienda en un barrio del municipio, labor que desempeña desde las 8 am hasta las 9 pm, Jairo sueña con tener una tienda más grande y con mucho surtido ( lácteos, gaseosas, implementos de aseo en general, etc) y quiere además invertir en cervezas, y variedad de licores para poder ofrecer a sus clientes una amplia gama de productos. Con el préstamo surtirá su tienda para manejar un stock suficiente ya que al comprar al por mayor obtiene grandes beneficios y ofertas lo que le representa ganancias y con las ventas generar mejores ingresos, teniendo así un mejor nivel de vida para su familia.
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.