Jairo, at his 55 years, is the owner of a small store located in the municipality of Bello, Colombia. He has been in the business for five years. Jairo is married and has two children. Thanks to his business, he earns the income he needs to support his household.
Jairo is currently requesting a loan to purchase basic grocery items. His goal is to increase his inventory and earn a better income.
Jairo's greatest dream is to expand his business and turn it into a supermarket. That would generate employment directly in his community and offer his family a better quality of life.
Jairo a sus 55 años de edad, es propietario de una tienda ubicada el municipio de Bello, Colombia, en la cual trabaja hace cinco años. Se encuentra casado y tiene dos hijos. Gracias a su negocio genera los ingresos con los cuales puede llevar la responsabilidad de su hogar.
En la actualidad, se encuentra solicitando un crédito con el que desea comprar productos de la canasta familiar, con el fin de aumentar su inventario y obtener mayores ingresos.
Su mayor sueño es expandir su negocio y convertirlo en un mercado autoservicio para generar empleos directos en su comunidad y brindar una mejor calidad de vida a su familia.
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.