Nelson, 52, has a shoe shop dedicated to repairing and manufacturing shoes. He has more than 20 years’ experience in this occupation. He’s become one of his area’s major shoe suppliers. In order to fill pending orders, Nelson is asking for a loan to buy supplies. He dreams with having a store in which to sell directly and to continue acquiring more knowledge to innovate and improve his income.
Nelson de 52 años de edad, tiene una zapatería dedicada a la reparación y fabricación de calzado. Con más de 20 años de experiencia en el oficio, se ha convertido en uno de los mayores proveedores de calzado para su localidad.
Con el fin de cumplir con los pedidos pendientes, Nelson se encuentra solicitando un crédito que invertirá en la compra de insumos.
Sueña con tener una tienda para su comercialización directa y continuar adquiriendo mayores conocimientos para innovar y mejorar sus ingresos.
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.