Francisco, a farmer from Antioquia, left his birthplace as one more victim of forced displacement due to the violence that was present. He moved with his wife and 6 children to the city. There, without having any experience of any other work, he began selling fruit and coffee as a street vendor on the streets of the city's center, and in this way he was able to help his family get ahead with great effort and dedication. His drive, strength, and tenacity strengthened him day after day and permitted him to have a new opportunity to survive and fight for his family's well-being. He seeks a loan to invest in stocking his items (pastries, cake, coffee, soda pop, and other items), and in this way meet the growing demand of the end of year season, which is when his sales increase. This will permit him to have greater income and be able to continue providing for his family's basic needs. Francisco dreams of having the opportunity to acquire a locale to sell his products and avoid the pitfalls present during the rainy season, which affects his sales. In this way he could increase his profits and have a better quality of life to enjoy with his family at his side and have a tranquil old age.
Francisco, un campesino y agricultor antioqueño, salió de su pueblo natal siendo una víctima más del desplazamiento forzado, debido a la violencia que se presentaba, se trasladó con su esposa y sus 6 hijos hacia la ciudad, allí, sin tener experiencia en otra labor, comenzó a vender frutas y café de manera ambulante, por las calles del centro de la ciudad y, así pudo sacar adelante a su familia con mucho esfuerzo y dedicación. Su empuje, fortaleza y la tenacidad con la que se esfuerza día a día le han permitido tener una nueva oportunidad para resurgir y luchar por el bienestar de los suyos. Se motiva a solicitar el crédito con el fin de invertirlo en surtido al por mayor (mecato, confitería, café, gaseosas, entre otros), así podrá abastecerse para satisfacer la demanda que aumenta en la temporada de fin de año, en la que se incrementan sus ventas. Esto le permitirá tener mejores ingresos y podrá continuar solventando las necesidades básicas de su hogar. Francisco sueña con tener la oportunidad de adquirir un local para vender sus productos y evitar los desafíos que se le presentan por las temporadas de lluvia, que afectan sus ventas, así podrá mejorar la rentabilidad y tener una mejor calidad de vida para disfrutar al lado de su familia una vejez más tranquila.
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.