John Jairo is a man who has been characterized as seeking the best quality of life for his four children and wife. At 46 years old, John Jairo makes furniture, an activity he learned thanks to the family tradition. He dreams of growing his business and offering better products to his customers. To do this, he now needs to buy materials tom increase his business' production. Seeking more income, John Jairo wants his customers to be more satisfied with his products each time, so he wants to sell his products with higher quality.
John Jairo es un señor que se ha caracterizado por buscar que sus 4 hijos y su esposa tengan la mejor calidad de vida posible. A sus 46 años, John Jairo se dedica a la talabartería, actividad que aprendió gracias a que ha sido trascendencia familiar. Sueña con que su negocio crezca y poder ofrecer mejores productos a sus clientes, por lo que actualmente requiere de la compra de insumos para aumentar la producción de su negocio. En busca de generar mayores ingresos, John Jairo quiere que sus clientes estén cada vez mas satisfechos con sus productos, por lo que quiere vender sus productos con mayor calidad.
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.