Esteban, 27 years old, considers art his great passion. Since completing his upper secondary school studies he has been inclined toward a career in graphic design. He began working to finance his studies and to fulfill his dream.
Today he is already an established professional and his greatest desire is to start his own business. For this reason he is requesting a loan that will be used to buy a professional camera.
He hopes to start his business covering social events in the area. Increased revenues will help him to improve his quality of life and to make a name for himself locally.
Esteban a sus 27 años de edad, considera que el arte es su gran pasión. Desde que terminó su bachillerato se inclinó por el diseño gráfico, por lo cual comenzó a trabajar para financiarse sus estudios y poder cumplir con su sueño.
Hoy ya es un gran profesional y su mayor deseo es montar su propio negocio, razón por la cual se encuentra solicitando un crédito que destinará en la compra de una cámara fotográfica profesional.
Espera poder iniciar con su actividad comercial para cubrir eventos sociales de su localidad y generar mayores ingresos que le permitan mejorar su calidad de vida y darse a conocer dentro de su localidad.
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.