Five months ago, Luis started a vegetable store in order to improve his financial situation. Due to his lack of education, access to the job market became an incredibly difficult thing to gain.
The people in the area have responded well to Luis's new shop and so he wants to invest in the business to increase sales and improve his family's quality of life.
Luis's biggest dream is to be able to turn the vegetable shop into a self-service shop and to become a source of employment for the area.
Desde hace cinco meses montó una legumbrería, con el fin de mejorar su condición económica ya que por su carencia educativa el acceso a un empleo se convirtió en una odisea para el.
Las personas del sector han respondido favorablemente, por lo cual Luis desea realizar una inversión en su negocio para incrementar las ventas y mejorar la calidad de vida de su familia.
Su mayor sueño es poder convertir su legumbrería en una tienda autoservicio y convertirse en una fuente generadora de empleo en el sector.
More information about this loan
By supporting this loan, you're helping a borrower launch a new business!
This loan is designed for an entrepreneur who needs working capital to start a brand new business. Along with the loan, Kiva's field partner Interactuar provides counseling, training courses, and other financial resources to help new, riskier entrepreneurs set up young businesses.
Important InformationThis 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.
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