Carlos is 44 years old, and lives in the municipality of Sonsón, Colombia, where, for the past fourteen years, he has dedicated himself to the creation of horseshoes in a little workshop located in his house. Thanks to this activity he has managed to move his family forward and offer them better opportunities in life. Now his children are studying, and because the humble family does not find itself lacking in basic services.
Carlos is a man full of dreams which he hopes to make into reality, and one of them is to be able to expand his business and increase his level of purchase, changing into the largest distributer of horseshoes in the municipality. This is the reason he is asking for this loan which will be used for the purchase of raw materials (iron, rubber, plastic, and leather).
He hopes with this investment he would be able to improve the quality of life for his family and achieve his big dream.
Carlos de 44 años de edad, se encuentra radicado en el municipio de Sonsón, Colombia, en donde se dedica desde hace catorce años a la elaboración de herraduras en un pequeño taller ubicado en su vivienda. Gracias a su actividad ha logrado sacar adelante a su familia y brindarle mejores oportunidades de vida, pues sus hijos se encuentran estudiando, y como familia humilde no carecen de los servicios básicos.
Carlos es un hombre lleno de sueños, los cuales espera convertirlos en realidad y uno de ellos es poder ampliar su negocio e incrementar su nivel de ventas, convirtiéndose en el mayor distribuidor de herraduras en su municipio. Razón por lo cual se encuentra solicitando un crédito que destinará en la compra de materia prima (hierro, caucho, plástico y cuero).
Espera que con dicha inversión pueda mejorar la calidad de vida de su familia y cumplir su gran sueño.
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.