Hernan is married, has two children and has approximately 40 years experience as a mechanic. Thanks to his father having worked in this area, he learnt about being a mechanic from a very young age and has always worked this way. He is now recognised as providing very high quality work which has allowed him to improve his income over time and in this way to offer his family a better quality of life, and overcome the financial difficulties at home.
Thanks to an opportunity he had around 6 months ago he has become independent and now has his own mechanics workshops where he can create two jobs for 2 people, which are very much needed. However since in his workshop there is a problem with the roof, this has been causing him financial problems. For this reason Hernan is asking for a loan to repair the roof of his workshop so that he can provide a better quality service.
His biggest dream is to be able to improve his own workshop and offer his family a better quality of life and better economic opportunities moving forward.
Hernan se encuentra casado, tiene 2 hijos y tiene experiencia de aproximadamente 40 años en la actividad de la mecánica. Gracias a que su padre se dedicaba a esta actividad, la aprendió desde muy joven y siempre ha venido trabajando en ella, y ahora es reconocido por tener muy buena calidad en sus trabajos y esto le ha permitido que sus ingresos mejoren con el paso del tiempo y así poder ofrecer en su familia una mejor calidad de vida y superar las dificultades económicas del hogar. Gracias a que se le presentó la oportunidad, desde hace unos 6 meses se ha independizado y ahora tiene su propio taller de mecánica donde puede generar 2 empleos para 2 personas que son muy necesitadas, pero debido a que en su taller presenta una dificultad en el techo, esto ha venido presentándole problemas económicos. Es por esto que Hernan busca un préstamo para reparar el techo de su taller de mecánica y puedan tener una mejor calidad en el servicio que prestan.
Su mayor sueño es poder sacar su propio taller adelante y brindarle a su familia una mejor calidad de vida y mejores oportunidades económicas para progresar.
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.