Julio Cesar has worked downtown in the city of Medellín for 28 years. He has been an artisan since his youth thanks to family tradition and a course he took at an institute where he succeeded in developing all of his potential.
Currently he makes bags and shoes, working Monday to Saturday from nine in the morning until six in the evening. Through his business he generates what he needs to live
His greatest desire is to improve sales and increase his earnings so he can have a better quality of life. That is the reason he has requested a loan, which he will invest in the purchase of raw material such as leather, arrow cane and buckles, among other items.
Julio Cesar, labora en el centro de la cuidad de Medellín desde hace más de 28 años. Artesano desde su juventud, gracias a la tradición familiar y a un curso que realizó en un instituto en donde logró desarrollar todo su potencial.
En la actualidad se dedica a la elaboración de bolsos y calzado, trabajo que realiza de lunes a sábado de nueve de la mañana a seis de la tarde. Gracias a esta actividad Julio genera lo necesario para vivir.
Su mayor deseo es mejorar las ventas y aumentar sus ingresos para tener una mejor calidad de vida. Razón por la cual se encuentra solicitando un crédito que invertirá en la compra de materia prima como cuero, caña de flecha, hebillas entre otros.
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.