At the age of 35, Henry’s an entrepreneur. He started his own business some years ago in order to earn income to support his home. He works in his store daily form 6am until 10pm.
He’s asking for a loan today to buy stock merchandise like chicken, cold cuts and ice-cream in order to improve supply, attract new customers and make them regular. He dreams with seeing his business grow and attain a position in the sector providing his family with better quality of life.
Henry a sus 35 años de edad es un emprendedor, desde hace algunos años inició su propio negocio con el fin de obtener ingresos para el sostenimiento de su hogar.
Trabaja en su tienda diariamente de 6:00 hasta las 10:00 pm. Hoy se encuentra solicitando un crédito para la compra de surtido como pollo, carnes frías y helado, con el fin de mejorar la oferta, atraer nuevos clientes y alcanzar su fidelización. Sueña con ver crecer su negocio y posicionarlo en el sector, brindándole a su familia 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.