Duván, 26, is a young man who's looking for better opportunities in life. His family didn't have the resources to be able to give him the opportunity to continue studying, so he decided to become a small businessman to pay for the university. For two years he has made a living selling clothing by home delivery. His main customers are people from the neighborhood and students at the university where he studies.
He divides his time between his university life and the streets of the town of Sonsón, Colombia, which he covers three times a week looking for new customers. His biggest dream is to be able to finish his program and graduate to be a great professional so he can take responsibility for his mother and siblings.
With the goal of generating greater income, he's requesting a loan to buy stock--jeans, t-shirts, and underwear--for the end-of-year and back-to-school seasons, which is when his sales increase.
Duvan es un joven de 26 años de edad, que anda en búsqueda de mejores oportunidades en la vida. Debido a la falta de recursos, su familia no pudo ofrecerle la oportunidad seguir estudiando, por lo cual el decidió convertirse en microempresario para sostener su universidad. Desde hace dos años se dedica a la venta de ropa a domicilio, sus principales clientes son las personas de su barrio y los estudiantes de la universidad en donde estudia.
Distribuye su tiempo entre la Vida universitaria y las calles del municipio de Sonsón, Colombia, las cuales recorre tres veces a la semana en búsqueda de nuevos clientes. Su mayor sueño es poder terminar su carrera y graduarse como un gran profesional, para hacerse cargo de su madre y sus hermanos. Con el fin de generar mayores ingresos se encuentra solicitando un crédito para la compra de surtido- jeans, camisetas, ropa interior- para la temporada de fin de año y el regreso a clases, que es donde se incrementan las ventas.
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.