Aged 25 years old, David is an entrepreneur who has been distributing and selling ice for 3 years. He delivers it to local nightclubs, liquor stores, and delicatessens. His business is based in Bello, a town in the department of Antioquia. He is well known there for good service and the responsiveness with which he delivers his product.
Unfortunately, 8 days ago his business was badly affected when his scooter, which he uses for delivery, was stolen. His business was left without a means of transport. David does not have enough capital to buy a new scooter, and because it is an essential tool for his work, he finds himself obliged to seek a loan to purchase one. His order book is full but without a vehicle his sales are meagre. David dreams of seeing his business grow, and in future when his income has increased he will have a better standard of living.
A sus 25 años de edad David es un emprendedor que desde hace 3 años se encarga de la distribución y comercialización de hielo, labor que desempeña en discotecas, licoreras y salsamentarias del sector, su negocio está ubicado en bello, un municipio del departamento de Antioquia, allí es reconocido por el buen servicio y la agilidad en la entrega del producto.
Desafortunadamente desde hace 8 días su negocio se está viendo muy afectado pues la moto donde distribuía el hielo se la robaron y lo dejaron sin vehículo de transporte para su negocio. Hoy en día David no cuenta con el capital para comprar una moto nueva, y este motivo es el que lo obliga a solicitar un préstamo para la compra de dicha moto, pues es una herramienta básica para su negocio, ya que sus pedidos son de alta cantidad y sin un vehículo donde trasportar las ventas son mínimas. David sueña con ver crecer si negocio, y en un futuro cuando los ingresos se hayan incrementado llegar a 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.