John is a young entrepreneur who, through much hard work, has been able to get ahead in his business providing transportation service in the city with his motor vehicle. He learned the trade when he was young from his father who is in the same business, and now, thanks to his experience, he has been able to work and save to buy his own motor vehicle. Since he bought the vehicle he has been working independently, generating his own income to contribute to the family economy. But he wants to earn more and is requesting a loan to pay off the vehicle and run an independent transportation business.
His dream is to make his business successful and generate enough income to provide a better quality of life to his parents and siblings.
John es un joven emprendedor que con mucho esfuerzo ha sacado adelante su propio negocio el cual es un motocarro con el que brinda el servicio de transporte en su municipio. La actividad la aprendió de su padre quien se dedica a esto y desde muy joven se la enseñó para trabajar a su lado, y ahora gracias a esta experiencia ha logrado conseguir trabajo y ahorrar para comprar su propio motocarro. Desde hace muy pocos días que compró su motocarro ha venido trabajando de manera independiente, generando sus propios ingresos con los que contribuye económicamente en su hogar, pero buscando poder tener unas mejores ganancias del negocio, John busca un préstamo para terminar de pagar su propio motocarro y ofrecer el servicio de transporte de manera independiente.
Su sueño es poder sacar adelante este negocio y seguir generando buenos ingresos con los que pueda ofrecer una mejor calidad de vida en el hogar de sus padres y hermanos.
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.