Rafael is a person who has always wanted to support his parents with the best quality of life possible, for awhile now his parents have been his responsibility since they are at an age when its difficult for them to work. He makes the necessary income for his household through agriculture, an activity that he has been involved with for several years now but that does not allow him to make a large income. The competition in his region is very strong; this is why, he alternates this activity with a general store. The store that he has is not very large, it gives him little income that he adds to the income from agriculture, and in this manner, he can support his expenses and those of his parents. In an effort to support his parents, he wants to stock a store that he leased a few days ago. This is why he is searching for a loan that will allow him to buy merchandise such as vegetables, oils, grains, detergent, soft drinks, and liquor. He hopes that with this new store he will be able to increase his income considerably and be able to fulfill his dream of having his parents in a much better condition and improve his quality of life allowing him to enjoy a little from the hard work he has done all his life.
Rafael es una persona que siempre ha querido mantener a sus padres con la mejor calidad de vida posible, pues desde hace algún tiempo sus padres están bajo su responsabilidad debido a que se encuentran en una edad que les es difícil trabajar. Rafael genera los ingresos necesarios para su hogar con la actividad de la agricultura, actividad que desarrolla desde hace varios años pero que no le permite tener grandes ingresos, pues la competencia en su región es muy fuerte; por esto, Rafael alterna esta actividad con la de las tiendas generales. La tienda que tiene Rafael no es muy grande y le genera unos pocos ingresos a los que le suma los ingresos generados por la agricultura y así puede sostener los gastos suyos y los de sus padres. Con el ánimo de generar mayores ingresos para sostener sus padres, Rafael quiere surtir una tienda que arrendó hace algunos días, por esto está en busca de un préstamo que le permita comprar el surtido como legumbres, aceite, granos, detergente, gaseosas y licor. Rafael aspira que con esta nueva tienda se aumenten sus ingresos considerablemente y pueda cumplir su sueño de tener sus padres en una condición mucho mejor a la actual, y también mejorar su calidad de vida permitiéndose disfrutar un poco de lo fuerte que ha trabajado durante toda su 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.