Diego Alexander is a young man of 27 who is fighting to get ahead and have the opportunity to finish secondary school since he only studied until fifth grade, which is why he has not been able to access good employment.
Due to the precarious economic situation his family has suffered through, Diego looked for employment in order to help with home expenses and has been working for four years as a provider to a supermarket in his area.
In order to do this work it is necessary to have a motorcycle, which is why he is requesting a loan for the purchase of a new one, since the one he currently has is in bad condition. Currently, he does not enough of his own resources to make this investment.
Diego dreams of being able to finish his studies, since he is sure that at his age he can still become a great professional and improve his family's quality of life.
Diego Alexander es un joven de 27 años de edad, que lucha por salir adelante y tener la oportunidad de terminar su secundaria ya que sólo estudio hasta el grado quinto, razón que le ha impedido acceder a un buen empleo.
Por la precaria situación económica que padece su familia, Diego buscó empleo para colaborar con los gastos del hogar y desde hace cuatro años labora como repartidor en un supermercado de su localidad. Para la realización de esta actividad es necesaria una motocicleta, por lo cual se encuentra solicitando un crédito para la compra de una nueva, ya que la que posee actualmente se encuentra en malas condiciones. Actualmente no cuenta con los recursos propios para realizar dicha inversión.
Diego sueña con poder terminar sus estudios, pues asegura que a su edad aún puede convertirse en un gran profesional y 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.