Luis is 32 years old and is known as an entreprising and dynamic young man with a knack for business. His business savvy can be seen in the work he has done for the past five years after he branched out to be his own boss. He opened a restaurant where he works with another employee. It is well located on a heavily trafficked street in the center of town and, despite all the competition, he is confident in his business because he sells products that are different and innovative.
His biggest dream is to strengthen and position his business even better so that he is guaranteed profits and to be able to give his family a better quality of life and well-being, especially his son who will soon be born.
All of this motivates Luis to ask for a loan and, with that money, improve his business, purchasing wholsale stock like vegetables, meat, grains and more. With supplies, he will have more available and be able to meet the demand for his products and to satisfy his customers tastes, while simultaneously increasing sales and income for his family.
Luis, a sus 32 años de edad, se caracteriza por ser un hombre emprendedor y dinámico, con visión para los negocios; esto lo refleja desde hace 5 años que comenzó a trabajar como comerciante independiente, pues montó un restaurante en el que trabaja con una empleada, el local está muy bien ubicado en una calle muy transitada del centro de la ciudad y, a pesar que tiene mucha competencia en el sector, él está tranquilo, pues ofrece productos diferentes e innovadores.
Su mayor anhelo es fortalecer y posicionar bien su negocio, para que le garantice una buena rentabilidad y le brinde la capacidad de dar a su familia una mejor calidad de vida y bienestar, especialmente a su hijo que está próximo a nacer.
Todo esto motiva a Luis para solicitar el crédito y con el dinero fortalecer su negocio, comprando insumos al por mayor (verduras, carne, granos y otros), así tendrá disponibilidad suficiente para atender la demanda de productos y satisfacer los gustos de sus comensales, aumentando las ventas e ingresos para su familia.
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.