Jorge is 19 years old and is very clear about what he wants in life. A month ago his dream of being the best barber in town started to become a reality. Thanks to help from his father who paid for his training course, Jorge was able to realise his potential. He tells us he wants to continue learning and improving his technique.
Jorge is now working from 9am to 9pm every day. He hopes to increase his number of customers and become a source of employment for the area. Now he is applying for a loan to invest in buying clippers and advertising, so that he can be more well known and have a balanced business.
Jorge, es un joven de 19 años de edad, quien tiene claro que es lo que quiere en la vida. Desde hace un mes comenzó a materializar su sueño de convertirse en el mejor barbero de su localidad. Gracias a la ayuda de su padre quien le pagó el curso en una academia Jorge desarrollo su potencial.
Asegura que su mayor deseo es seguir aprendiendo y poder mejorar la técnica.
Se encuentra laborando diariamente de nueve de la mañana a nueve de la noche. Espera poder aumentar su número de clientes y convertirse en una fuente de empleo para el sector. Hoy se encuentra solicitando un crédito que invertirá en la compra de máquina de corte y publicidad, con el propósito de darse a conocer y alcanzar el punto de equilibrio en su negocio.
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.