Jesus has made a living in scrap metal for various years, collecting it in his municipality and then taking it to the city where he receives a good price for it. In this way he generates the necessary income for his household to satisfy the needs of his wife and their children. A few days ago he had to overcome a great family difficulty which was that his wife was very sick and had to undergo surgery, which meant high bills for the family and has caused Jesus to be left without capital for his business. In order to start up again with this activity and gain capital to continue working Jesus is looking for a loan to buy scrap metal in his municipality and to be able to make a profit when he sells it in the city.
His dream is to be able to overcome the economic difficulties he is facing and offer his family a better quality of life.
Jesus comercializa chatarra desde hace varios años, recogiéndola en su municipio y luego llevándola a la ciudad donde recibe buenas ganancias por esto; de esta manera genera los ingresos que necesita en su hogar para satisfacer las necesidades de su esposa y sus hijos. Hace unos días tuvo que superar una gran dificultad familiar y fue que su esposa se encontraba muy enferma y tuvo que ser sometida a una cirugía, lo que trajo consigo altos gastos para su hogar y por esto Jesus tiene muy descapitalizado su negocio. Para retomar con la actividad y capitalizar otra vez el negocio para seguir trabajando, Jesus busca un préstamo para comprar chatarra en su municipio y poder tener las ganancias cuando la venda en la ciudad.
Su sueño es poder superar las dificultades económicas que tiene en su hogar y así brindarle a su familia una mejor calidad de 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.