Javier De Jesus
His need, in order to continue striving for his family’s quality of life, is to get capital for the purchase of materials for his business, such as patches, glue, valves, and other spare parts. He will, thus, have more profit from his business and better income since he has months where it is very difficult to generate enough income to cover his basic expenses. His dream is to have his own shop and the opportunity to employ more people and, thus, offer better service.
Su necesidad para seguir luchando por la calidad de vida de su familia es conseguir capital para la compra de los materiales con los que realiza su proceso como parches, pega, válvulas y otros repuestos y así tener más utilidad en su trabajo y mejorar sus ingresos de los que cuenta que hay meses que son muy difícil de generar para por lo menos cubrir sus gastos básicos.
Su sueño es tener su propio local y darle oportunidad de empleo a más personas y así brindar un mejor servicio
Important InformationThis 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.
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