Luis has always been a hard worker and this has allowed him to overcome major hardships in life and offer his family the quality of life they need. Seven years ago and thanks to a friend, he learned how to produce foods. Using some small savings, he bought the tools he needed to start producing foods from his home. He has made his business grow with much effort and he now has good sales. However, some financial and capital constrains have kept him from increasing his production capacity. In order to increase his production, Luis is looking for a loan to purchase supplies for making sweets and 2 medium-sized pots to increase his production capacity.
Luis' dream is to be able to improve his business and to supply other businesses both in his town and in surrounding towns.
Luis siempre se ha caracterizado por ser muy trabajador y esta cualidad le ha permitido superar grandes dificultades que se le han presentado en la vida y así continuar ofreciéndole a su familia la calidad de vida que necesita. Desde hace 7 años aprendió gracias a un amigo la actividad de la producción de alimentos, especialmente dulces que vende en su municipio, y con unos pequeños ahorros que tenía compró las herramientas necesarias para ubicar en su hogar la producción de estos alimentos. Con mucho esfuerzo ha venido sacando su negocio adelante y ahora tiene buenas ventas, sin embargo las dificultades económicas y de capital no le han permitido aumentar su capacidad de producción. Para mejorar esta situación, Luis busca un préstamo para comprar insumos para la preparación de los alimentos dulces y 2 ollas medianas para aumentar su capacidad de producción.
Su sueño es poder mejorar este negocio y llegar a abastecer negocios no solo de su municipio, sino de municipios cercanos al suyo.
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.