Jorge is a 29 year old entrepreneur with a can-do spirit that has led him to start his own business when he was not able to find gainful employment. He currently works as an independent merchant, traveling through various municipalities of eastern Antioquia selling merchandise door-to-door on credit. His mode of transportation is a bicycle adapted as a wagon so that he is able to carry the products that he offers. In this way, he has been able to generate sufficient income to take care of his household. With the loan he currently seeks, Jorge will build his business by purchasing wholesale merchandise (cabinets, fans, sheets, pots and pans, and other household items) in preparation for the end of the year sales season. This will reduce costs, which will then increase the profit margin from his sales. Jorge states that his only challenge is managing his portfolio, but to date he has been able to manage it and all of his customers have paid on time. Furthermore, he hopes to continue working hard and to one day open his own distribution business, thereby improving his well-being and quality of life.
Jorge es un emprendedor de 29 años de edad, con un espíritu de superación que lo ha llevado a iniciar su propio negocio, en vista de no conseguir oportunidades de empleo. Actualmente se dedica a trabajar como comerciante independiente, recorre varios municipios del oriente antioqueño vendiendo mercancía a crédito, de manera ambulante, su transporte es una bicicleta adaptada como carreta para poder llevar los productos que ofrece y, de esta forma ha generado los recursos suficientes para aportar a la economía de su hogar. Actualmente solicita el crédito como apoyo para fortalecer su negocio, con el dinero comprará mercancía al por mayor (armarios, ventiladores, juegos de sábanas, ollas y otros artículos para el hogar), pues así podrá abastecerse para la temporada de fin de año, disminuyendo los costos, lo que dará como resultado un incremento en el margen de ganancia que obtiene por las ventas. Jorge manifiesta que su único desafío es manejar la cartera, pero hasta el momento la ha sabido controlar y todos los clientes han pagado cumplidamente; además sueña con seguir trabajando arduamente y en un futuro pueda tener la oportunidad de montar su propia distribuidora de mercancía, mejorando así la calidad de vida y su bienestar.
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.