Carlos is an entrepreneurial man who loves his work. He trained to become a mechanic at a young age and decided to work in this field in order to provide for his household (his wife and three children). Carlos is requesting a loan to invest in buying spare parts with the goal of improving his business and increasing his sales volume as sales have decreased considerably recently.
Carlos' biggest dream is to improve his family's quality of life and guarantee his children access to higher education.
Carlos, es un hombre emprendedor y amante a su trabajo. Desde joven aprendió el oficio de mecánica y decidió dedicarse a esta labor, con el fin de sostener su hogar compuesto por su esposo y tres hijos. Con el fin de mejorar su actividad y aumentar su volumen de ventas, se encuentra solicitando un crédito que invertirá en la compra de repuestos, ya que las ventas han disminuido considerablemente en los últimos días.
Su mayor sueño es mejorar la calidad de vida de su grupo familiar y garantizarse a sus hijos el acceso a la educación superior.
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.