Señor Duverney is 21 years old. He works selling different merchandise such as shirts, sweatshirts, pajamas, hosiery, health and beauty products, and household products. He learned this trade from a friend, who 18 months ago taught him to sell this merchandise in Ceja, a town to the east of Antioquia.
Señor Duverney wants to purchase products for health and beauty for his stock, with the goal of growing his sales and income and so improving his quality of life. Señor Duverney has overcome all the difficulties that were caused by the winter, which made it more difficult to sell his products. Señor Duverney dreams of having his own premises with a large customer base and large amount of stock.
El señor Duverney a sus 21 años de edad, se dedica a la venta de diferente mercancía como camisas, camisetas, pijamas, medias, productos para la salud, belleza y el hogar; este oficio lo aprendió de un amigo quien hace año y medio le enseño a vender esta mercancía en el municipio de la Ceja situado al oriente de Antioquia. El señor Duverney desea comprar surtido de productos para la salud y belleza con el fin de aumentar sus ventas e ingresos y así mejorar su calidad de vida. El señor Duverney ha superado todas las dificultades a causa del invierno que le han dificultado la venta de sus productos. El señor Duverney sueña con tener su propio almacén con gran clientela y surtido.
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.