Pedro is a very hardworking person with a strong desire to get ahead and provide for his family. He operates a workshop and makes shoes, using the income he generates to support his family. He opened his workshop 20 years ago, and is well known for his high quality work and products. He learned the shoe-making craft from one of his friends who taught him many skills, and, after a time working with and for his friend, he was able to save up some money to purchase basic machinery and open his own shop. His workshop is the source of income for his family, and their hope for a better quality of life.
Recently, he has received many customer orders for shoes, but he does not have the raw materials necessary to fulfill those orders. Therefore, Pedro is requesting this loan, and he plans to use the support from the loan to purchase raw materials for making shoes. He hopes this will help to keep up with client demand and all his present orders.
His dream is to expand and grow his business, and to provide for his family and improve their quality of life. Pedro also dreams of giving his children a high quality education, and hopes his business will help them realize their dreams.
Pedro es una persona muy trabajadora y gracias a esto ha podido sacar adelante su familia con los ingresos que le genera su taller de fabricación de calzado, el cual tiene hace unos 20 años y gracias a esta experiencia es reconocido por ofrecer trabajos de muy buena calidad. La actividad la aprendió de unos amigos que se dedicaban a esto y durante un tiempo se la enseñaron a Pedro, y luego de esto con unos ahorros consiguió la maquinaria básica y desde entonces tiene este negocio como su fuente de ingresos para que su familia salga adelante y pueda tener una buena calidad de vida. Gracias a que en los últimos días ha tenido una gran cantidad de pedidos de calzado, pero como no cuenta con la materia prima suficiente para responder por ellos, Pedro busca un préstamo para comprar materia prima para la elaboración de calzado y responder a los grandes pedidos que tiene por parte de sus clientes.
Su mayor sueño es que este negocio salga adelante y siga siendo la fuente de ingresos para que su familia tenga el sustento necesario para tener una buena calidad de vida. Además, Pedro sueña con que sus hijos tengan una educación de buena calidad y aspira a que su negocio les pueda pagar esta educación.
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.