Jose began selling fried snacks because he was unemployed and found this opportunity to generate the income that he needed in his household, where he lives with his two children. In spite of the fact that he began his business with very little capital, his effort has permitted him to advance and succeed in offering his children a good quality of life. Jose needs to make some repairs to his cart where he prepares fried snacks, and he had some savings destined for this, but because the winter caused some damage to his home, he had to use the money to repair the damage that the winter caused in his home, and now he has no money to be able to repair his cart. It is because of this that Jose is seeking a loan to repair his cart where he prepares the fried snacks, since he needs to repair its tires, the awning, and other additional parts.
His dream is to be able to move this business forward and that it will allow him to offer his two children a better quality of life and better opportunities to advance. In addition, he hopes that his business will generate better income for him and that he can repair his house to prevent the winter from again causing damage.
Jose inició con la venta de fritos debido a que se quedó desempleado y encontró esta oportunidad para generar los ingresos que requiere en su hogar donde convive con sus 2 hijos. A pesar de que con muy poco capital comenzó su negocio, su esfuerzo le ha permitido salir adelante y lograr ofrecerles a sus hijos una buena calidad de vida. Jose requiere hacerle algunos arreglos a su carrito donde prepara los fritos y tenía unos ahorros destinado para ello, pero debido a que el invierno le ocasionó unos daños en su hogar, tuvo que destinar el dinero para reparar los daños que ocasionó el invierno en su hogar y ahora no tiene dinero para poder reparar su carrito. Es por esto que Jose busca un préstamo para reparar su carrito donde prepara los fritos, pues necesita reparar sus llantas, la carpa y otras partes más.
Su sueño es poder sacar este negocio adelante y que le permita ofrecerles a sus 2 hijos una mejor calidad de vida y mejores oportunidades para salir adelante. Además, espera que su negocio le genere mejores ingresos y pueda arreglar su hogar para prevenir que el invierno le vuelva a ocasionar daños.
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.