Francisco has spent his entire life seeking opportunities to get ahead and achieve independence. He lives with his wife, but their children are grown and have their own families.
Francisco has run a variety of businesses in his career: a restaurant, bars, and cafes. Today, however, he feels he can no longer spend all his time running around, which is a necessity in the food service industry. Francisco is therefore trying to earn a living by renting several properties that he owns.
Francisco is very industrious and tenacious, and says he doesn't like feeling like he's expendable. He is applying for a loan in order to make improvements to the apartments that he currently rents. These renovations will allow him to offer much more to prospective tenants and generate greater interest in the apartments.
Francisco es un hombre que toda su vida ha tratado de encontrar oportunidades para salir adelante y ser independiente, ha tenido negocios de restaurante, bares y cafeterías a lo largo de su experiencia; pero hoy en día se siente demasiado cansado para todo el movimiento que se necesita en estos negocios.
Por esta razón viene dedicándose al alquiler de algunas propiedades como locales que tiene a su nombre y de esta manera es que se gana la vida.
Vive con su esposa ya que sus hijos son mayores de edad y ya tienen su propia familia.
Es un hombre muy trabajador y persistente, manifiesta que no le gusta sentirse inútil.
Solicita un apoyo económico para realizar algunas mejoras a uno de los apartamentos que actualmente alquila ya que así podrá ofrecerlo mucho más fácil y los clientes se interesaran mas en el apartamento.
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.