David Andrés is 32 years old and his greatest desire is to be able to achieve a university education in order to have better opportunities in the working world. In order to carry out his plan, this young man dedicates himself to manufacturing jewelry, a trade that he learned in an institute and which has allowed him to save to begin studying next year.
He is requesting a loan in order to purchase a drill and equipment for the manufacture of his items. David hopes to be able to increase his sales to generate higher income and to be able to sustain his studies. His biggest challenge has been obtaining customers since many are very reluctant to buy handicrafts but he states that it has been a great learning experience because it allows him to develop his potential as a seller. He maintains that he wants to specialize in business administration because his dream is to set up his business on a larger scale.
David Andrés tiene 32 años de edad y su mayor anhelo es poder realizar una carrera universitaria con el fin de tener mejores oportunidades en el mundo laboral. Para cumplir su proyecto, este joven se dedica a elaborar joyería, oficio que aprendió en un instituto y el cual le ha permitido ahorrar para comenzar a estudiar el próximo año. Se encuentra solicitando un crédito para la compra de un taladro y materiales para la fabricación de sus artículos. David espera poder incrementar sus ventas para generar mayores ingresos y poder sostener sus estudios. Su mayor reto ha sido conseguir clientes, ya que muchos son muy reacios a comprar artesanías, pero expresa que eso ha sido un gran aprendizaje porque le permite desarrollar su potencial como vendedor, asegura que se quiere especializar en administración de empresas porque su sueño es montar su negocio en grande.
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.