Oscar is 60 years old and is a man committed to his work and family. For the past 38 years he has been working in reupholstering and restoring vehicle interiors, which he learned from his father. He is asking for this loan to buy the tools he needs to be able to provide good service.
His three children have been his motivation to work hard each day and give his best so that he can offer them the opportunities he didn’t have because of his financial situation.
His greatest dream is to have his own workshop with enough supplies to meet the needs of his customers and generate greater income to improve his family’s quality of life.
Don Oscar de 60 años de edad, es un hombre comprometido con su trabajo y su familia. Se dedica desde hace 38 años al tapizado y restauración de cabrillas para vehículos; actividad que aprendió gracias a su padre. En la actualidad se encuentra solicitando un crédito para la compra de las herramientas necesarias para la prestación de un buen servicio.
Sus tres hijos han sido el motor para esforzarse día a día y dar los mejor en su trabajo con el propósito de brindarles las oportunidades a las que el no pudo acceder por su condición económica.
Su mayor sueño es tener su propio taller con el surtido suficiente para solventar las necesidades de sus clientes y generar mayores ingresos para mejorar la calidad de vida de su familia.
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.