Sergio worked for a shoe company for many years. With the experience he acquired he decided to set up his own business as he was seeking a way to make financial progress. He produces tennis shoes, boots, ankle boots, and sandals at his shoe factory. Thanks to the good quality of his products, he has been able to have good sales.
Sergio is known for being very organized with the business, very entrepreneurial, and very tenacious about getting his wife and two children, ages 17 and 19, ahead.
His current production capacity is less than his customer demand. That is why he is looking for a loan to buy a machine to glue soles and to buy raw material to increase his production capacity.
His dream is to get his business ahead, and to be able to generate more employment to help other people get ahead. He also aims for his two children to be able to have a university education and to be able to have a better quality of life at home.
Sergio trabajó en una empresa de calzado durante muchos años, y con la experiencia que ha adquirido decidió montar su propio negocio en busca de progresar económicamente. En su fábrica de calzado produce tenis, botas, botines, sandalias, y gracias a la buena calidad de sus productos ha podido tener buenas ventas. Sergio se caracteriza por ser muy organizado con el negocio, muy emprendedor y muy luchador por sacar adelante a su esposa y sus 2 hijos de 17 y 19 años de edad. Actualmente su capacidad de producción es inferior a la demanda que tiene de sus clientes, es por esto que busca un préstamo para comprar máquina para pegar suelas y materia prima para aumentar su capacidad de producción.
Su sueño es sacar este negocio adelante y poder generar más empleo para ayudar a otras personas a salir adelante. Además, aspira a que sus 2 hijos puedan tener una educación universitaria y en su hogar puedan tener una mejor calidad de vida.
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.