William, 60, is single and motivated to continue working on his own. Several years ago he started selling merchandise on credit in the area where he lives, and currently he has a wide and loyal clientele.
He's requesting the loan to buy merchandise wholesale (bedclothes and blankets) because a good sales season is approaching.
William's dream is to increase his income and his profits, and to enjoy a good standard of living with his family.
William tiene 60 años, es soltero y con muchos ánimos de seguir laborando ya por su propia cuenta, desde hace varios años que empezó a vender mercancía a crédito en el sector donde vive y en la actualidad tiene una amplia y fiel clientela, solicita el crédito para comprar mercancía al por mayor (tendidos, cobijas) porque se avecinan temporadas buenas para las ventas, su sueño es incrementar sus ingresos y ganancias, y disfrutar de un buen nivel de vida junto con 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.