Update on Jairo Alberto"If there's a will, there's a way." With this phrase, Jairo, 41, narrates how he became an orthodontist. Although his family lacked the financial resources to pay for his studies, Jairo started working in the daytime and studying in the evenings. Doing that, he was able to graduate an orthodontist. He worked in different offices in the city until he decided to start his own practice in order to improve his economic condition and guarantee his family a better quality of life.
His biggest challenge is competition, as there are many orthodontic centres, but he assures us that this fact helps him reinvent himself every day in order to improve his work. Currently, he wants to make improvements to his office and buy dental implements like silicone, resin, cotton and a drill.
For this, he is requesting a loan that will permit him to offer higher quality services.
Su mayor reto es la competencia, debido a que existen muchos centros odontológicos, pero asegura que este factor le ayuda a reinventarse cada día para hacer mejor su labor.
En la actualidad desea realizar adecuaciones locativas y compra de implementos de trabajo como siliconas, recinas, algodones, y una fresa. por lo cual se encuentra solicitando un crédito que le permitirá ofrecer un servicio de mayor calidad.
Previous Loan DetailsJairo is a very hardworking person, thanks to which he has succeeded in getting ahead despite the great difficulties he has confronted in his life. Jairo is a dentist and has been engaged in this profession for the past 8 years. Thanks to his effort and dedication to his work he succeeded in open... More from Jairo Alberto's previous loan »
Important InformationThis 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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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