Juan De Dios
Thanks to his dedication, sacrifice, and years of work, Juan became independent and established his own workshop. Today he has worked independently in this trade for the past 30 years. He is satisfied with the development of his business and that it has allowed his family to achieve a better quality of life.
Juan is a man who is full of dreams. One of them is to travel abroad with his wife so that they can visit many places. He would also like to give his young daughter the chance to enroll at the university. In order for these dreams to materialize, he knows that he must have both time and money. For this reason, he is requesting a loan in order to buy wood so that he can increase his sales and generate the income that he needs.
Gracias a su dedicación, sacrificio y años de trabajo, Juan se independizó y montó su propio taller. Hoy lleva 30 años ejerciendo la actividad como independiente, por lo cual se siente satisfecho debido a que el desarrollo de su actividad le ha permitido a su familia gozar de una mejor calidad de vida.
Juan es un hombre lleno de sueños, uno de ellos es viajar con su esposa al exterior y conocer muchos lugares y brindarle a su hija menor la oportunidad de ingresar a la universidad. Sabe que para materializar sus sueños se necesita tiempo y dinero, por lo cual se encuentra solicitando un crédito para la compra de madera con el propósito de aumentar sus venta y generar los recursos que necesita.
Important InformationThis 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.
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