Frainer is a young man of 29 and he sells vegetables, a job that has allowed him to sustain himself in the city and to offer the opportunities that circumstances have denied him in the past: to study. He wants to be an administrator of his small business and to make it into a large market for vegetables and meats.
This young man wishes to expand his line of products that he offers at the market and to do this he is applying for a loan that he will invest in the purchase of chicken and fish so he can offer these items to his customers this Christmas.
Frainer es un joven de 29 años de edad, dedicado a la venta de legumbres, labor que le ha permitido sostenerse en la ciudad y ofrecerse la oportunidad que las circunstancias le habían negado; estudiar, deseando ser un gran administrador de su pequeña empresa idealizándola en el corto plazo como un gran mercado de legumbres y carnes.
Este joven sueña con incrementar su línea de productos ofertados en el mercado y por eso a recurrido a la aprobación de un crédito el cual invertirá en la compra de pollo y pescado para ofrecerles a sus clientes en esta navidad.
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.