Juan Nicolás, 49, has worked as a driver since the age of 15. He started out working with his uncle and later on used his savings to buy his own vehicle that he uses to provide transportation services. He hauls building materials and farm supplies. He heads out daily to the municipality of Carmen de Viboral seeking customers.
Because of some mechanical failures, his vehicle’s motor needs repairs in order to function properly. Because of this, Juan is requesting a loan to repair the motor so he can continue working. His greatest wish is to be able to replace his pick-up truck with a truck so he can provide service not only in his location but also throughout the department. His great difficulty is instability in his work because it does not generate steady income so he’s had to learn to live with what he’s able to earn. He hopes his economic situation will change.
Juan Nicolas de 49 años de edad, trabaja desde los 15 años como conductor, inicialmente desarrolló la actividad con un tío y posteriormente con sus ahorros compró su propio vehículo en el que presta servicios de acarreos, transporte de materiales para la construcción y productos agrícolas. Diariamente se desplaza al parque del municipio del Carmen de Viboral, Colombia, en búsqueda de clientes.
Debido a fallas mecánicas, el motor de su vehículo requiere de ajustes para su funcionamiento. Por esta razón, Juan se encuentra solicitando un crédito con el que realizará la reparación del motor para poder continuar con su labor.
Su mayor deseo es poder cambiar su camioneta por un camión que le permita prestar el servicio no sólo en su localidad si no en todo el departamento. Su gran dificultadad es la inestabilidad de su trabajo ya que no genera ingresos constates por lo cual ha aprendido a vivir con lo que gana. Anhelando que su situación económica cambie
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.