Gratitude is what Ricardo León feels toward his mother and it’s with the objective of improving her quality of life that Ricardo León works hard every day in the business he has in his town. Ricardo León states that for him, happiness is having his mother live in better conditions than her current ones so he never tires of striving toward higher income for his business. This is why he dreams whit having his store better stocked and to attract more customers so that income will increase thus improving his and his mother’s quality of life.
Agradecimiento es lo que mas siente Ricardo Leon hacia su madre, y es con el objetivo de mejorarle su calidad de vida que Ricardo Leon se esfuerza fuertemente todos los días en el negocio que tiene en su municipio. Ricardo León afirma que para el la felicidad es tener a su mama viviendo en mejores condiciones de las que vive hoy, por lo que nunca se cansara de buscar mayores ingresos para su negocio, es por esto que sueña con tener mas surtido en su tienda y atraer así a mas clientes, de modo que se aumenten sus ingresos y mejore la calidad de vida de su madre y la suya.
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.