Since he was young, Luis Alberto has known the law of moonlighting. Since he was 8 when his father went out with him to sell sweets in the street, he learned to be entrepreneurial and independent. Since he was young, he learned to make crafts, a job that he made into his own business and, for some years, he has worked at in the Medellin Center where he offers the products he makes to bystanders.
Luis works from Monday to Saturday until 7:30 at night when making good sales ends and he makes income to improve his quality of life and that of his family. Currently, he needs a loan for raw material like leather, thread, among other things that will allow him to improve his production and obtain greater earnings.
Desde pequeño Luis Alberto ha conocido la ley del rebusque, pues desde los 8 años cuando su padre salía con él a vender dulces en la calle aprendió a ser emprendedor e independiente, desde muy joven aprendió a hacer artesanías, oficio que lo convirtió en su propio negocio y que desde hace algunos años ejerce en el Centro de Medellín donde ofrece los productos que elabora a los transeúntes.
Luis trabaja de lunes a sábado hasta las 7:30 de la noche con el fin de hacerse a buenas ventas y lograr ingresos para mejorar su calidad de vida y la de su familia. Actualmente necesita de un préstamo para materia prima como cuero, hilos, entre otros implementos que le permitirán mejorar su producción y así obtener mayores ganancias.
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.