Brayan is an 18 year old young man who loves motorcycles. This passion has allowed him to develop his potential as a mechanic. For a year he has worked repairing motorcycles. This activity has become the way he earns his living and helps his family with the household expenses. He dreams of going to college and perfecting his knowledge in order to expand his business and improve his family's quality of life.
In order to guarantee his customers quality service, Brayan is asking for a loan to invest in buying hand tools.
Brayan es un joven de 18 años de edad, amante a las motocicletas, pasión que le permitió desarrollar el potencial para la mecánica. Desde hace un año se dedica a la reparación de motocicletas. Actividad que se ha convertido en la forma de ganarse la vida y ayudar en su casa con los gastos del hogar. Sueña con ingresar a la universidad y perfeccionar sus conocimientos con el fin de expandir su negocio y mejorar las condiciones de vida de su familia.
Con el fin de garantizarles a sus clientes un se servicio de calidad, Brayan se encuentra solicitando un crédito que invertirá en la compra de herramientas de mano.
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.