'Entrepreneur' is the best word to describe Danny, a young man of 26 who has been in the music production business for approximately seven years. Danny comes from a family of musicians which means he has an innate love of music. Thanks to the good quality of his productions, Danny is very well known in his region. This has enabled him to move forward with his music studio and gain a large number of customers. Owing to the fact that his business is constantly updating itself, Danny needs to buy a sound card. As he doesn't have enough capital to make this purchase he hopes to receive a loan which will allow him to buy a professional sound card. This will enable him to make better-quality productions.
Danny hopes that, in this way, he will be able to buy his sound card without affecting his monthly income. He also hopes to be able to continue contributing financially to his household. Danny dreams of having a large music studio which is well known around the country and that great artists will come and record in his studio.
Emprendedor es la mejor palabra para caracterizar a Danny, un joven de 26 años que desde hace aproximadamente 7 años se dedica a la producción musical. Danny proviene de una familia donde la mayoría son músicos, lo que hace que lleve intrínseco el amor por la música. Gracias a la buena calidad de sus producciones, Danny tiene muy buen reconocimiento en su región, lo que ha hecho que pueda salir adelante con su estudio musical y conseguir una gran cantidad de clientes. Debido a que su negocio esta constantemente renovándose, Danny requiere realizar la compra de una tarjeta de sonido, sin embargo, no cuenta con el capital suficiente para realizar esta compra. Es por esto que Danny espera que un préstamo le brinde la posibilidad de acceder a la compra de una tarjeta de sonido profesional con la cual pueda realizar sus producciones con una mayor calidad.
Danny espera que de esta manera pueda conseguir su tarjeta de sonido sin que sus ingresos mensuales se vean afectados, además, de poder seguir contribuyendo económicamente en su hogar. Danny sueña con tener un gran estudio de producción musical, que sea reconocido en el país y grandes artistas graben en su estudio.
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.