Henry, 44, worked for more than 8 years in a carpentry shop where he developed his potential and honed his skills as a cabinetmaker. This knowledge led him to open his own business and work for himself. He stresses that creating his own firm has been one of the greatest blessings because his family’s quality of life has improved considerably. He works every day from seven in the morning to six in the evening. He’s currently asking for a loan to buy raw materials (lumber) in order to fill orders and generate income. He dreams with enlarging his workshop and is doing some remodeling of his house to do so.
Henry de 44 años de edad, laboró por más de ocho años en una carpintería, donde desarrollo su potencial y perfeccionó el oficio como ebanista. Conocimiento que lo motivó a crear su propio negocio y a constituirse como independiente. Asegura que crear su propia empresa ha sido una de sus mayores bendiciones ya que la calidad de vida de su grupo familiar ha mejorado considerablemente. Labora diariamente de siete de la mañana a seis de la tarde. En la actualidad se encuentra solicitando un crédito que invertirá en la compra de materia prima (madera) con el fin de adelantar los pedidos y generar ingresos.
Sueña con ampliar su taller, por lo cual se encuentra realizando adecuaciones en su vivienda.
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.