Henry is an honest and vigorous 50 year old man. He is the father of two teenagers and lives in a common law marriage.
He has been working as an independent merchant for 14 years, selling clothing and hosiery. He learned this on his own and started the business when he became unemployed because his company had a personnel cut. Since then he has been working on the streets to earn a living.
He is asking for this loan to buy inventory in quantity (clothing and hosiery) so he can have a greater variety of styles to satisfy his customer demand and increase his sales and income.
Henry wants to have a store in a local shop so he can increase his profitability and have financial stability so he can provide a better education to his children and have a better quality of life.
Henry es un hombre honrado y pujante, a sus 50 años de edad, es padre de dos hijos adolescentes y vive en unión libre con su pareja sentimental.
Desde hace 14 años trabaja como comerciante independiente, vendiendo ropa y medias, el oficio lo aprendió de manera empírica y lo inició luego de quedarse desempleado, porque la empresa donde trabajaba hizo corte de personal; desde entonces vio en el trabajo de calle una alternativa para ganarse la vida.
El crédito que solicita lo invertirá en la compra de surtido al por mayor (ropa y medias) esto le permitirá tener más variedad y estilos para satisfacer los gustos de sus clientes y así aumentar las ventas e ingresos.
Henry sueña con tener un almacén en un local comercial, que le permita mejorar la rentabilidad y tener una estabilidad económica para dar mejor educación a sus hijos y disfrutar 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.