Fabian is a young entrepreneur who learned carpentry from his father at a very young age. He began helping his father and later fully dedicating himself to the business, buying machinery and gaining his own customers.
Fabian finished his secondary school studies and decided to work in this field.
To improve upon his woodworking process to bring about higher quality, Fabian requires a loan to purchase an edge banding machine. This will enable him to increase sales and continue supporting his parents so they can a better quality of life.
In addition, little by little he will reach his goal of having his own shop where he can relocate his carpentry business and create jobs.
Fabian es un joven emprendedor que aprendió la actividad de la carpintería desde que estaba muy niño, porque su padre le enseñó. Inició ayudando a su padre y luego se dedicó de lleno al negocio, comprando maquinaria y consiguiendo sus propios clientes. Fabian terminó sus estudios secundarios y desde ahí decidió trabajar en este oficio. Para hacer un proceso a la madera que hace el trabajo de mejor calidad, Fabian requiere un préstamo para comprar una máquina cantiadaora.
De esta manera podrá conseguir más ventas y continuar aportando para que sus padres tengan una mejor calidad de vida. Además, poco a poco irá cumpliendo su sueño de tener un local propio donde pueda trasladar la carpintería y generar empleo.
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.