Herman is a hardworking 42 year old man. For many years, he has dedicated himself to running his own business, a grocery store that he opened as a different way of earning a living and generating an income to provide for himself. The store is located in his home. There, he benefits from not having any competition nearby, which helps his sales and income.
The loan that he is seeking will be used to purchase an assortment of products in bulk (cookies, snacks, candy, coffee, unrefined whole cane sugar, grains and others) and a display case. This will allow him to improve his store's image. He will also have a greater variety of products to satisfy the tastes and needs of his customers. Herman states that his greatest challenge is continuing to fight hard to reach his dream of expanding his business and in the future having the financial ability to have his own home, where he can improve his living conditions and wellbeing.
Herman es un hombre trabajador de 42 años de edad, que lleva varios años dedicándose a atender su propio negocio, una tienda de abarrotes que inició como alternativa para ganarse la vida y generar recursos para su sustento. El establecimiento está ubicado en la casa donde reside, allí cuenta con la ventaja de no poseer competencia cercana, lo que beneficia sus ventas e ingresos.
El crédito solicitado está destinado para la compra de surtido al por mayor (galletería, mecato, dulces, café, panela, granos y otros) y una vitrina para exhibición, esto le permitirá mejorar la imagen del negocio y tendrá más variedad de artículos para satisfacer los gustos y necesidades de su clientela.
Herman manifiesta que su mayor anhelo es seguir luchando arduamente para llegar a cumplir el sueño de ampliar su negocio y en un futuro tener la capacidad económica para adquirir una vivienda propia, en la que pueda mejorar sus condiciones de vida y bienestar.
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.