His dream is to have a successful metal shop that is recognized so that he can improve his quality of life at home. In addition, he plans to create jobs for some his relatives who are dealing with great financial difficulties.
Su sueño es poder tener un gran taller de metales que sea reconocido y con el cual pueda mejorar la calidad de vida en su hogar. Además, aspira a poder generar empleo para unos familiares suyos que se encuentran con grandes dificultades económicas.
Important InformationThis 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.
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