Luis Fernando is a young 20 year old entrepreneur who, after finding out his wife was pregnant, began working at a barbershop, a business he had known for a long time. He has now had his own business for about one year, his son is 3 months old, and thanks to the income his business provides, he has the opportunity to give his son everything he needs.
Given that he started his business with very little capital, it still needs some equipment that he has not yet purchased, and therefore, Luis Fernando seeks a loan that will allow him to purchase a wash-unit and a mirror for his barbershop, so he can offer better services to his clients. This way, he will have a fully equipped business and provide good service to his clients. In addition, little by little he will grow his business and he will be able to fulfill his dream of having a great business that will allow him to generate employment for people in need.
Luis Fernando es un joven emprendedor de 20 años de edad que al ver que su esposa quedó en embarazo comenzó a trabajar en la actividad de la barbería, actividad que ya conocía desde hace un tiempo. Ya hace un año aproximadamente que tiene su propio negocio y su hijo tiene 3 meses de nacido, y gracias a los ingresos que le da su negocio tiene la oportunidad de brindarle a su hijo todo lo necesario. Debido a que su negocio lo comenzó con muy bajo capital, actualmente aún requiere de algunos implementos que no ha comprado, es por esto que Luis Fernando busca un préstamo que le permita comprar un lavacabezas y un espejo para su barbería, y así poder ofrecer un mejor servicio a sus clientes.
De esta manera podrá tener su negocio bien equipado y ofrecer así un buen servicio a sus clientes. Además, poco a poco irá creciendo con su negocio y podrá cumplir su sueño de tener un gran negocio que le permita generar empleo para las personas más necesitadas.
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.