Yorley is a young man of 24 who works selling clothing for women and men, offering his merchandise on credit to his friends, family members and acquaintances. This business arose out of his need to obtain the necessary resources to support himself at the university and at home, since he did not have enough for transportation or food while he was attending the university, and many necessities were lacking in his home. Thanks to this work, Yorley has moved ahead with his studies and is able to contribute to his household economically. Currently, Yorley needs to buy an assortment of merchandise in order to increase his offerings to his customers and improve his sales. Yorley's dream is to have his own store and to finish his university studies.
A sus 24 años de edad, el joven Yorley se dedica a la venta de ropa para dama y caballero a crédito a sus amigos, familiares y conocidos, esta actividad surgió de la necesidad de obtener los recursos necesarios para su sostenimiento en la universidad y su hogar, puesto que no tenia ni para el transporte ni su alimentación cuando asistía a la universidad y en su casa pasaban por muchas necesidades. Gracia a esta actividad, el joven Yorley ha sacado adelante sus estudios y apoya económicamente en su hogar. Actualmente, el joven Yorley necesita de la compra de surtido para aumentar la oferta para sus clientes y mejorar sus ventas. El sueño del joven Yorley es tener su propio almacén y culminar sus estudios universitarios.
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.