With this business activity he will be able to take advantage of the advantage that he has. In the area where his business will be located there are no other businesses offering these services. In this way he wishes to start again to generate income to pay for his family’s basic necessities.
Edinson has an entrepreneurial and creative spirit that helps him to find new opportunities to make progress. He is aware that he needs to work with great care and dedication in order to do so.
This motivates him to request the loan with which he will buy a photocopy machine and stock (pens, notebooks, cardboard, and markers, among others). With this he will be able to start with his business idea. Edinson dreams of setting up a store that will be profitable and well-known in the area. He dreams of it generating better income in order to be able to improve his family’s living conditions, to provide them with stable and favorable finances, and to be able to enjoy a better quality of life.
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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