Manuel is 54 years old. He is known as an enterprising and visionary man. He decided to strike out on his own and open his own business with the goal of setting his own schedule and spending time with his family. He opened a shop selling everyday household staples in order to be able to provide for himself and his family.
He is grateful for the opportunity that God has given him to become a small businessman. His greatest wish is to offer a quality service and improve the financial situation of his household. That's why he is now requesting a loan for the purchase of stock to increase his variety of products and his sales.
Manuel de 54 años de edad, se caracteriza por ser un hombre emprendedor y visionario. Decidió abrirse camino y montar su propio negocio, con el fin de manejar su tiempo y compartir con su familia. Abrió una tienda dedicada a la venta de productos de la canasta familiar y poder generar el sustento para él y su familia.
Agradece la oportunidad que Dios le ha dado de convertirse en un micro empresario. Su mayor deseo es ofrecer un servicio de calidad y mejorar la condición económica de su casa. Razón por la cual, se encuentra solicitando un crédito para la compra de surtido, aumentando la variedad de productos y el nivel de 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.