Henry, 47, loves photography. Since he was a boy he’s dreamed of becoming a professional photographer and although his dream was often frustrated he managed to attain it despite the uphill battle reaching it required. Today, he works in photography in a small studio located in the town of Fredonia, Colombia that he manages in conjunction with other activities like selling office supplies, candy and liquor. He feels that despite all the frustrations he had to go through life rewarded him by giving him the opportunity of becoming a good manager which makes him happy. He currently needs a loan to buy basic stock merchandise and liquor and be able to provide better customer service. He hopes that sales will increase and generate higher income so he can buy his two children their school uniforms and school supplies for the return to classes.
Henry de 47 años de edad, es un fiel amante a la fotografía, desde niño siempre soñó con convertirse en fotógrafo profesional y aunque su sueño se frustró en muchas ocasiones, logró cumplirlo a pesar de la marea que jugaba en su contra. Hoy se dedica a la fotografía en un pequeño local ubicado en el municipio de Fredonia, Colombia, el cual administra y conjuga con otras actividades como la venta de papelería, dulces y licor.
Siente que a pesar de tantas frustraciones que le tocó vivir, la vida lo recompensó ofreciéndole la oportunidad de convertirse en un buen administrador y eso lo hace feliz. En la actualidad se encuentra en búsqueda de un crédito que invertirá en la compra de surtido y licor para cubrir su stock y poder ofrecer un mejor servicio. Espera que las ventas se incrementen y le generen mayores ingresos para comprarles a sus dos hijos los uniformes y útiles escolares para el regreso a clases.
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.