Napoleón is 66-years old and an example of the spirit and perseverance that characterize the Colombian people. Napoleón has been through big experiences in his life that have allowed him to grow and to learn about life.
Napoleón's family is the most important thing to him. They are the driving force that propels him forward in search of new business opportunities to guarantee them financial stability and better life conditions.
Before starting his business, Napoleón worked driving a tractor-trailer, an activity that gave him the opportunity to learn about mechanics and iron-works. He took advantage of this additional knowledge to become a micro-entrepreneur and open up his business.
Napoleón currently offers mechanic, iron-works and haulage services.
He is requesting a loan, which will be used to pay for insurance and repairs to his vehicle. He has had to stop his haulage services due to a lack of resources to make the above-mentioned payments.
Napoleón de 66 años de edad, es una representación del empuje y la perseverancia que caracteriza a los colombianos. En su vida le ha tocado vivir grandes experiencias que le han permitido crecer y aprender a cerca de la vida.
Su familia es lo más importante y el motor que lo impulsa a seguir adelante en búsqueda de nuevas oportunidades de negocio para garantizarles una estabilidad económica y mejores condiciones de vida.
Antes de montar su negocio, Napoleón laboró conduciendo una tracto-mula, actividad, que le permitió adquirir conocimiento en mecánica y cerrajería. Conocimientos que aprovechó para convertirse en microempresario y montar su negocio.
En la actualidad presta servicios de mecánica, cerrajería y transporte de acarreos.
Hoy se encuentra solicitando un crédito que destinará en el pago del seguro y restauración de su vehículo ya que ha tenido que frenar el transporte de acarreos por falta de recursos para realizar dicho pago.
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.