Robinsón is a 37 year old cabinetmaker who has been in this trade for over 15 years. He learned thanks to his father, who worked as a cabinetmaker all his life.
In order to improve the quality of life of his family, he is requesting a loan to invest in raw materials such as wood and foam so he can fill some orders that he had not been able to do because of a lack of capital.
His biggest dream is to provide his family a decent home, so he wants to save money and make the down payment on a home.
Robinsón de 37 años de edad, se dedica al oficio de la ebanistería desde hace más de 15 años. Aprendió la actividad gracias a su padre quien laboró toda su vida en este sector.
Con el fin de mejorar la calidad de vida de su familia, se encuentra solicitando un crédito que invertirá en la compra de materia prima como madera, espuma a fin de elaborar la producción que le han solicitado y que no ha podido realizar por falta de capital.
Su mayor sueño es brindarle a su familia una vivienda digna, por lo cual desea ahorrar y dar la cuota inicial para su adquisición.
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.