William Humberto P. S. is a businessman who learned how to repair watches at previous jobs. At the age of 25, the lack of employment opportunities in Yarumal, the municipality in Northern Antioquia where he lives, forced him to open his own business.
He started what is now his repair business with just a small glass display case, a chair, his hands and some basic tools. He offers his services at the entrance to a local eatery in a commercial area.
His dream of getting ahead in life has driven him to work hard, and he hopes to expand his business in order repair both watches and cell phones, sell related accessories and create jobs for at least two technicians. In this way, he will improve his quality of life.
William Humberto P. S. es un comerciante que aprendió en sus trabajos anteriores la técnica de reparar relojes. A sus 25 años de edad las pocas oportunidades laborales en Yarumal, municipio del Norte de Antioquia de donde es oriundo, lo obligaron a convertirse en comerciante.
Una vitrina pequeña, una silla, sus manos y algunos implementos básicos para iniciar con las reparaciones, fueron el inicio de lo que hoy es su trabajo, pues a la entrada de una cafetería en una zona comercial, es donde William presta sus servicios.
Su deseo de salir adelante lo ha impulsado a trabajar fuertemente pues espera ampliar su negocio reparando no sólo relojes sino también celulares, vendiendo accesorios relacionados y generando empleo mínimo a dos técnicos, así mejorará su 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.