Esteban is a very dedicated and entrepreneurial person, who despite his young age has suffered many adversities in his life, which thanks to his drive and desire to get ahead he has been able to overcome. Esteban is 20 years old, is the son of separated parents, he lives with his mother, and as the eldest of his siblings is the one who must ensure income for the home. Esteban's father taught him to make bands for pool tables, and thanks to this Esteban started his own business when he had to look for income for his home.
Currently, Esteban has a shop that despite not being luxurious and not having high tech machines, permits him to generate sufficient income to maintain a dignified quality of life for his family. Esteban has many good clients, and one of these has made a large order for which he needs to buy the raw materials to produce it. Nevertheless, Esteban does not have sufficient capital to make these purchases, which is why he hopes that this loan will offer him the possibility to buy the raw materials he needs to produce the pool bands and complete the order that his client has made.
Esteban dreams that his business grows and he can modernize his machines, in addition to generating employment and providing his siblings and mother with a good quality of life and economic prosperity.
Esteban es una persona muy decidida y emprendedora, que a pesar de su corta edad ya ha pasado por muchas adversidades en su vida, y gracias a su empuje y ganas de salir adelante ha podido superar. Esteban con 20 años de edad, es hijo de dos padres separados, por lo que vive con su madre y como es el mayor de sus hermanos es quien debe velar por los ingresos de su hogar. El padre de Esteban le enseñó a elaborar bandas para los billares y gracias a esto, Esteban montó su propio negocio cuando tuvo que buscar los ingresos para su hogar.
Actualmente Esteban tiene un taller que a pesar de no ser lujoso y no tener máquinas de alta tecnología, le permite generar los ingresos suficientes para mantener una calidad de vida digna a su familia. Esteban tiene muy buenos clientes, y uno de ellos le ha hecho un gran pedido, por lo que debe comprar la materia prima para fabricarlo. Sin embargo, Esteban no cuenta con el capital suficiente para realizar estas compras, por lo que tiene la esperanza en que un préstamo le brindará la posibilidad de acceder a la compra de materias primas para la fabricación de bandas de billar y cumplir con el pedido que le ha hecho su cliente.
Esteban sueña con que su negocio crezca y pueda modernizar sus máquinas, además de poder generar empleo y brindarle a sus hermanos y su madre una buena calidad de vida y una prosperidad económica.
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.