Luis Fernando A. is a determined man who has been selling watches and accessories for several years now in order to get his family ahead in life. He started out as an itinerant street vendor but, with his entrepreneurship and discipline, he saved his profits from his sales until he was able to buy a small location where he could keep his products in an organized space.
Luis Fernando is a dreamer and, with the hope of watching his business grow, he gradually obtained a fixed and stable sales location from which he could serve his customers. He currently mends watches and sells all kinds of accessories such as belts, caps, wristbands, etc. Luis Fernando doesn't have enough capital to buy merchandise and thereby offer his customers a wider variety of products. His biggest wish is to some day own a large store and be well known for offering good-quality, stylish products and a lot of variety.
Luis Fernando A. es un hombre luchador quien hace ya varios años vende relojes y accesorios para sacar a su familia adelante, comenzó como vendedor ambulante, pero por su emprendimiento y disciplina fue guardando las utilidades que sus ventas le dejaban hasta que pudo comprar una chazita, la cual le permitía tener sus productos en un espacio organizado. Luis Fernando es soñador, y con la ilusión de ver crecer su negocio poco a poco fue consiguiendo un puesto fijo y estable donde atender a sus clientes.
Actualmente, arregla relojes, y vende todo tipo de accesorios como correas, gorras, manillas, entre otros. Luis Fernando no cuenta con el capital suficiente para comprar mercancía y así ofrecerles a sus clientes mayor variedad de productos, su mayor anhelo es algún día poder tener un gran almacén y que sea reconocido por tener productos de calidad, con estilo y mucha variedad.
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.