Alonso is 33 years old and one of the best in his trade. His self-discipline and dedication has taught him that dreams can come true and that no barriers exist apart from those that we limit ourselves with.
Since he was a boy he has been passionate about electronics and although he could never go to university due to his family's economic activity, this was not an obstacle to him learning the trade. With the help of friends and acquaintances, he managed to become an expert in repairing electronic appliances, which has allowed him to provide his wife and 3 year old daughter with a decent living.
His biggest wish is to be able to improve the service in his business. Because of this he is asking for a loan so that he can buy the necessary tools and spare parts to carry out his work efficiently.
Alonso tiene 33 años de edad y es uno de los mejores en su oficio. Su disciplina y esmero le han enseñado que los sueños si se pueden cumplir, que no existe barrera más fuerte que a la que cada uno quiere limitarse. Desde niño se apasionó por la electrónica y aunque nunca pudo ir a una universidad por la situación económica de su familia, esto no fue un impedimento para que el aprendiera el oficio. Con la ayuda de amigos y conocidos logró convertirse en un experto en la reparación de electrodomésticos, actividad que le ha permitido brindarles a su esposa y a su hijo de tres años de edad una vida digna. Su mayor deseo es poder mejorar el servicio en su negocio y para ello se encuentra solicitando un crédito para la compra de herramientas y repuestos necesarios para desempeñar de manera eficiente su actividad.
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.