Carlos is married and has two minor children, who are his main motivation for seeking a better future. His great passion is cooking which he started learning about empirically in his youth since he was unable to receive a higher education.
Two years ago he opened a restaurant with the support of his family. He works every day from 6:00 a.m. until 9:00 p.m. with his wife and another relative. Today he is requesting a loan to install a gas line and to buy supplies (household goods) and publicity. He aims to increase sales to generate more income to improve his living conditions.
Carlos es casado y tiene dos hijos menores de edad, los cuales son su principal motivo para ir en búsqueda de un mejor futuro. Su gran pasión es la gastronomía, por lo cual desde su juventud aprendió la actividad de forma empírica, ya que por su condición económica no pudo acceder a la educación superior.
Desde hace dos años abrió un restaurante gracias al apoyo de su familia. Labora diariamente de seis de la mañana a nueve de la noche con su esposa y un familiar. Hoy se encuentra solicitando un crédito que destinará en la adecuación de la red de gas y compra de insumos (productos de la canasta familiar) y publicidad, con el fin de aumentar las ventas y generar mayores ingresos que le permitirán tener mejores condiciones 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.