Dahian is a twenty year old young man who works giving haircuts to men in a barber shop in the neighborhood of Bello which is north of Medellin.
Thanks to his work he can earn his own income which helps him economically with his home expenses and for his education costs. With the aim of improving the provided service, Dahian needs to buy a chair for his barber shop and paint for the facility, which will generate a better environment for his business and he will be able to attract more customers and increase his income.
In the future the young Dahian dreams of finishing his studies and forging ahead in his business.
A sus 20 años, el joven Dahian presta servicios de corte de cabello para hombre en una barbaría del sector de Bello localizado al norte de Medellín. Gracias a esta actividad, puede generar sus propios ingresos con los cuales apoya económicamente en su hogar y suple los gastos de sus estudios. Con el ánimo de mejorar el servicio prestado, el joven Dahian necesita de la compra de una silla para peluquería y pintar el local, lo cual generará un mejor ambiente es su negocio y podrá atraer más clientes y mejorar sus ingresos. A futuro el joven Dahian sueña con culminar sus estudios y posicionar su negocio.
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.