Luis Roberto is a tenacious man who has had his own construction firm for the last 20 years that generates four actual employment opportunities. He’s the father of two daughters and his greatest dream is that in future both of them will be professionals. He works daily with the dream of making progress and improving his quality of life.
At present, Luis Roberto needs to buy a cement mixer, a basic work tool that makes the construction process easier and improves the quality of his completed jobs. But he lacks sufficient capital to make this investment and this is why he’s asking for a loan to take another step toward progress.
Luis Roberto es un luchador que desde hace 20 años tiene su propio negocio de construcción donde genera 4 empleos directos. Es padre de 2 hijas y su mayor sueño es que a futuro ambas sean profesionales, para ello trabaja día a día con la ilusión de progresar y mejorar su calidad de vida.
Actualmente Luis Roberto necesita comprar una máquina para mezclar, herramienta de trabajo básica para agilizar sus procesos de construcción, y mejorar la calidad de los proyectos terminados, pero no cuenta con el capital suficiente para esta inversión por lo que solicita un crédito con el cual dar un paso más hacia el progreso.
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.