Señor Orbany is 39 years old, and is the father of two children aged 9 and 4. He works doing soldering, plumbing and electrical repairs in farms and homes, which he does in addition to selling vegetables.
Señor Orbany learned his trade from his brother. Señor Orbany needs to purchase a compressor which will allow him to undertake his work with greater ease, with the end goal of providing better service to his customers.
Señor Orbany's dream is to have is own soldering and plumbing workshop. With this he would be able to take on jobs directly and earn better income to provide his family with a better quality of life..
El señor Orbany a sus 39 años de edad es padre de dos hijos de 9 y 4 años de edad, se dedica a la soldadura, plomería y arreglos eléctricos en fincas y casas, el cual alterna con la atención de una legumbreria. El señor Orbany aprendió este oficio por medio de un hermano. El señor Orbany necesita comprar un compresor que le permita realizar con mayor facilidad su trabajo con el fin de brindar un mejor servicio a sus clientes. El sueño del señor Orbany es tener su propio taller de soldadura, plomería y generar con este empleos directos y mejores ingresos para brindar a su familia una mejor calidad de vida.
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.