Roboan is 32 years old and the father of two children, ages 10 and 4. Roboan sells ice cream outside schools and makes his product by machine. He would like to buy ingredients to make ice cream; like milk and flavorings. He also needs to perform maintenance on his ice cream machine, as he’s been using it for several years. This will make his work easier, knowing that his machine will not be damaged. Roboan’s dreams are to be able to provide for all his family’s needs, to grow with his business, buy more machines, and create jobs in his community.
El señor Roboan a sus 32 años de edad es padre de dos hijos de 10 y 4 años. El señor Roboan se dedica a la venta de helados a las afueras de los colegios con una maquina que elabora este producto. El señor Roboan desea comprar insumos para la elaboración de los helados como leches y saborizantes, adicionalmente necesita hacerle mantenimiento a la maquina que realiza los helados puesto que ya tiene varios años de uso. Con lo anterior, el señor Roboan podrá trabajar más tranquilo y con la seguridad de que la maquina no se le va a dañar. El sueño del señor Roboan es poder proveer todo lo que su familia necesita, crecer mucho más con su negocio, comprar más maquinas y generar empleos directos en su comunidad.
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.