Jorge is a 33 year old entrepreneur. He worked for more than eight years in a mat factory where he learned and aquired experience. About a year ago, he decided to leave and start his own business, taking advantage of the knowledge he obtained. He works from his home and does marketing by telephone and on social networks to save costs. He works every day from 7:00am until 6:00pm.
Since his business is in the starting phase, Jorge is requesting a loan to invest in the purchase of materials to make a larger number of mats that his customers have ordered. His biggest hope is to grow in this market and reach a point of maturity that will allow him to give his family better living conditions.
Jorge de 33 años, es un emprendedor. Laboró por más de ocho años en una fábrica de tapetes en donde aprendió y adquirió experiencia en la actividad. Desde hace un año decidió retirarse y crear su propia empresa aprovechando los conocimientos adquiridos. Labora desde su vivienda y a que las gestiones de mercadeo por teléfono y redes sociales con el fin de ahorrar costos.
Labora diariamente de siete de la mañana a seis de la tarde.
Como su negocio está en la etapa de introducción, Jorge se encuentra solicitando un crédito que invertirá en la compra de insumos para la fabricación de un mayor número de tapetes que le han solicitado sus clientes. Su mayor deseo es crecer dentro de este mercado y alcanzar su punto de maduración, lo que le permitirá garantizarle a su familia mejores condiciones 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.