Hernán, age 30, is a hardworking and energetic man. He earns his living by working as an independent merchant. Hernán has a grocery store that he started several years ago with the help of his brother. The business is open every day, beginning in the early morning hours.
The loan he is requesting will be invested in the purchase of inventory in bulk (cold cuts, pasta, chocolates, coffee, cookies, and dairy products). This will enable him to have a wider variety of products that he can offer to his customers. As a result, his sales and earnings will improve.
Hernán says that his greatest wish is to see his business well-positioned. This would guarantee financial stability so that he can have a better quality of life.
Hernán es un hombre trabajador y pujante de 30 años de edad, que se gana la vida trabajando como comerciante independiente, tiene una tienda de abarrotes que inició hace varios años, cuenta con el apoyo de su hermano y abre todos los días desde las primeras horas de la mañana.
El crédito que solicita será invertido en la compra de surtido al por mayor (carnes frías, pastas, chocolate, café, galletería, lácteos), esto le permitirá tener más variedad de productos para ofrecer a sus clientes y así mejorar las ventas y los ingresos.
Hernán manifiesta que su mayor anhelo es posicionar bien su negocio, que le garantice una estabilidad económica para tener una mejor calidad de vida.
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.