Jesús Albeiro, age 45, has been a mechanic for 30 years. He learned his trade from his father who was devoted to the same line of work.
Jesús is now the father of two children, ages nine and five. For this reason, he strives each day to provide his children with better living conditions and access to a good education. Today he is requesting a loan in order to buy tools for his work. The ones he currently owns are obsolete and sometimes impede him with some of his duties. As a result, he is not able to provide quality service.
Jesús dreams of buying a house of his own so that he can provide his family a decent quality of life.
Jesús Albeiro de 45 años de edad, es mecánico desde hace 30 años, labor que aprendió gracias a su padre quien se dedicó a la misma labor.
Hoy es padre de dos hijos de nueve y cinco años de edad, y por ellos, lucha diariamente a fin de brindarles mejores condiciones de vida y el acceso a una buena educación. Hoy se encuentra solicitando un crédito para la compra de herramientas de trabajo ya que la que posee actualmente se encuentra obsoleta y le impide en ocasiones realizar algunas actividades o no generar la calidad en el servicio deseado.
Sueña con comprar una vivienda propia para brindarle a su familia una calidad de vida digna.
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.