Luis Alberto is 47 years old. He is a man full of dreams and goals to reach. He says that after he studied in school, he learned about the craft of carpentry thanks to instruction given by a relative.
When he finished his degree, Alberto decided to start working in this sector since the financial condition of his family prohibited access to higher education. After perfecting his craft in the different workshops where he worked, he decided to become independent and open his own workshop, where he makes all kinds of furniture. He has been doing this activity for 29 years and feels grateful that thanks to his work he can support his family and offer education to his two children.
He is currently asking for a loan in order to buy supplies in order to improve his productivity and increase his sales in order to begin saving and buying a house in order to offer his family a better quality of life.
Luis Alberto de 47 años de edad, es un hombre lleno de sueños y metas por realizar, cuenta que desde que estudiaba en el colegio, aprendió sobre el oficio de la ebanistería gracias a la enseñanza impartida por un familiar. Cuando terminó su bachiller, Alberto optó por comenzar a laborar en este sector ya que por las condiciones económicas de su familia acceder a la educación superior era un imposible. Después de perfeccionar el oficio en los diferentes talleres en donde laboró, decidió independizarse y montar su propio taller, en donde elabora toda clase de muebles. Hoy lleva 29 años realizando la actividad y se siente agradecido porque gracias a su trabajo ha podido sostener a su familia y ofrecerle educación a sus dos hijos. En la actualidad se encuentra solicitando un crédito que destinará para la compra de materiales con el fin de mejorar su productividad e incrementar sus ventas para comenzar ahorrar y comprar una vivienda para ofrecerle a su familia una mejor calidad de vida.
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.