Germán is a 46 year old man who has had to live with an increasingly violent society. Displaced by the violence, he relocated to the city of Bello, Colombia, where he began looking for work. Out of a need to generate an income, he worked in a shoe repair shop where he learned the trade.
Through discipline he was able to save some money with which he started his own shoe repair shop. There he makes all kinds of repairs. His life has improved considerably but he would like to make it better. He is asking for this loan so that he can buy supplies to be able to begin making shoes, expand his services, and generate more income so that he can enjoy a dignified life. His greatest dream is to be become a great entrepreneur and build a grand shoe making and sales business.
Don Germán es un hombre de 46 años de edad, que le ha tocado vivir las inclemencias de una sociedad violenta. Desplazado por la violencia, se radicó en el municipio de Bello, Colombia. Comenzó a buscar empleo inducido por la necesidad de generar ingresos y poder subsistir. Laboró en una zapatería en donde aprendió el oficio.
Con su disciplina logró ahorrar un dinero con el que decidió independizarse y montar en su casa un taller de Calzado en donde realiza todo tipo de arreglos. Su vida hoy ha mejorado considerablemente, pero desea poder mejorarla. Por esta razón ha decidido buscar un préstamo con el fin de comprar materiales para comenzar a elaborar calzado ampliando sus servicios y generando mayores ingresos que le permitan gozar de una vida digna. Su mayor sueño es poder convertirse en un gran empresario y montar un gran negocio de fabricación y venta de calzado.
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.