Javier is a very hard-working and tenacious person who strives to make progress in life. As a result, he has been able to overcome the difficulties he has faced. Javier has been upholstering vehicles and furniture for approximately 30 years and this business makes him the income he needs to support his household. Javier lives with his wife and two children. Thanks to the good quality of his work, Javier is very well known among the people who live in his town. This means that he experiences very good sales. Owing to the fact that he has been using his equipment for a long time, he would like to replace it so that he can provide better-quality work. As he does not have enough capital to buy this equipment, Javier is looking to take out a loan which will allow him to buy it. This will enable him to produce better-quality work.
Javier hopes, in this way, to renew his equipment without affecting his monthly income so that he can continue providing for his for his family. Javier dreams of being able to offer his wife and children a better quality of life and hopes to enjoy better opportunities for making progress.
Javier es una persona muy trabajadora y luchadora para salir adelante, lo que le ha permitido superar las adversidades que le ha presentado la vida. Javier se dedica desde hace aproximadamente 30 años a la tapicería de vehículos y muebles, y gracias a esto genera los ingresos necesarios para el sostenimiento de su hogar, donde convive con su esposa y sus 2 hijos. Gracias a la buena calidad de sus productos, Javier es muy reconocido entre los habitantes de su municipio, lo que le ha permitido generar muy buenas ventas para su negocio. Debido a que su maquinaria ya tiene mucho tiempo de uso, Javier quiere renovarla para poder ejercer su actividad con una mejor calidad, sin embargo, no cuenta con el capital suficiente para la compra de esta maquinaria. Es por esto que Javier aspira a que un préstamo le brinde la posibilidad de acceder a la compra de maquinaria para la tapicería de vehículos y muebles, y esto le permite ejercer su actividad con una mejor calidad.
Javier espera que de esta manera pueda renovar su maquinaria sin que sus ingresos mensuales se vean afectados, y de esta manera pueda seguir garantizando el sustento necesario para su familia. Javier sueña con poder ofrecerles una mejor calidad de vida a su esposa y sus hijos, y de esta manera pueda tengan mejores oportunidades de progreso.
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.