John is 42 years old and comes from humble circumstances. His work is his only way of earning a living and sustaining his home. He has two dependent children and strives every day on their behalf to offer them a better quality of life.
For 6 years, he has worked repairing and maintaining refrigeration units. He learned this skill thanks to a friend who works in the same field. Juan travels to his customers' homes in the city of Santa Bárbara, Colombia and its outskirts to work. His greatest difficulty is getting to his customers, since he doesn't have a means of transit.
Even though his needs are many, he knows that with patience they will get worked out. Today he needs to buy parts and work tools in order to continue with his work and improve his financial situation. For this reason, he is asking for a loan, since he doesn't have the means to make this investment on his own.
John de 42 años de edad, es de origen humilde. Su trabajo es su único medio de vida y sostenimiento para su hogar. Tiene dos hijos menores de edad, por los cuales se esfuerza día a día para ofrecerles mejores condiciones de vida. Desde hace 6 años, se dedica a la reparación y el mantenimiento de equipos de refrigeración, actividad que aprendió gracias a un amigo que labora en el mismo sector. John presta sus servicios a domicilio en el municipio de Santa Bárbara, Colombia y sus veredas. Su Mayor dificultad es el desplazamiento hacia sus clientes, debido a que no cuenta con un medio de transporte.
Aunque sus necesidades son muchas, este hombre sabe que con paciencia se irán resolviendo. Hoy necesita comprar repuestos y herramientas de trabajo para continuar con su actividad y mejorar su situación económica, por esta razón se encuentra solicitando un crédito ya que no cuenta con recursos propios para dicha inversión.
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.