Giovanni is a man who's dedicated to his family and passionate about his work. Over 15 years ago he learned the trade of auto mechanics by working for a repair shop. Today he seeks to become independent and start his own business so that he can improve his financial situation and ensure better living conditions and a good education for his children. That's why he's requesting a loan which he'll use to purchase spare parts, lubricants and tools.
He will set up the shop in a small garage his family owns, which will result in better profits. He dreams of establishing his business and turning it into the best shop in town. He guarantees that his family's well-being is the most important thing, which is why he'll work very hard in order to ensure it.
Giovanni es hombre dedicado a su familia y apasionado a su trabajo, desde hace más de 15 años aprendió el oficio de mecánica empleándose en un taller. Hoy busca la forma de independizarse y crear su propio negocio con el fin de mejorar su condición económica y garantizarles a sus tres hijos una mejor calidad de vida y una buena educación. Razón por la cual se encuentra solicitando un crédito que invertirá en la compra de repuestos, lubricantes y herramientas.
El taller lo abrirá en un pequeño garaje de propiedad familiar, por lo cual tendrá mejores rendimientos. Sueña con posicionar su negocio y convertirlo en el mejor de su localidad. Asegura que el bienestar de su familia es lo más importante por lo cual trabajará fuertemente para garantizarcelo.
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.