Querubín has been working for 8 years as a producer and marketer of brooms. He started in this trade some time ago thanks to instruction from his oldest son who was in a rehabilitation center and, as part of his training for reintegration into society, learned techniques for making this cleaning tool.
In order to make the brooms, Querubín must buy more materials, keeping in mind that if he buys in bulk he can reduce his costs. This is why he needs some additional capital that will enable him to buy more raw materials. This man, who raised his children alone after he became a widower, dreams every day of growing his micro-enterprise in order to be able to help others.
Querubín S. trabaja desde hace 8 años como productor y comercializador de escobas y traperos. Comenzó con este oficio desde hace ya vario tiempo gracias a las enseñanzas de su hijo mayor quien estuvo en un centro de rehabilitación y dentro de su proceso de reinserción a la sociedad, aprendió técnicas para la elaboración de este implemento de limpieza.
Para poder fabricar las escobas, Querubín debe comprar más insumos teniendo en cuenta que si hace compras al por mayor puede reducir costos, es por esto que necesita un capital adicional que le permita obtener más materias primas. Este hombre, que sacó a sus hijos adelante él solo después de haber quedado viudo, sueña cada día con hacer crecer su microempresa para poder ayudar a otros.
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.