Jaime is thirty-one years old. He began his business selling medicines eight months ago because of the need for this service in his neighborhood. He took advantage of this opportunity to create a business and increase his income. He had worked for more than twelve years managing a medical shop, a job that allowed him to learn and acquire experience. Today, this has allowed him to be independent.
He is requesting a loan that he will invest in purchasing display cabinets and restocking his busines, with the final goal being to grow his sales and to position himself within the local market.
He dreams of being able to guarantee a stable economic income and better quality of life for his family.
Jaime de 31 años de edad, inició su negocio dedicado a la venta de medicamentos desde hace ocho meses debido a la necesidad carente en su sector. Oportunidad que aprovechó para crear empresa y mejorar sus ingresos. Laboró por más de 12 años administrando un almacén de medicamentos, empleo que le permitió aprender y adquirir la experiencia que hoy lo han llevado a ser independiente. Se encuentra solicitando un crédito que invertirá en la adecuación de vitrinas y compra de surtido con el fin de aumentar sus ventas y lograr posicionarse dentro del mercado local.
Sueña con garantizarle a su familia una estabilidad económica y una mejor calidad 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.