Gabriel Jaime, 28, has an 8-month-old son and is currently single. He has worked in sewing for 2 months after completing his training in dressmaking and patterns. With this work, he has earned an income to support his family.
He has applied for a loan to invest in the purchase of two sewing machines: an overlocking sewing machine and a covering machine. He will also buy supplies (fabric, thread, and buttons) in order to make very good-quality products to sell to his friends and acquaintances.
His greatest dream is to have a well-located business property where he can offer his complete services, with current patterns and well-finished products of excellent quality. This will allow him to increase his income to offer a better quality of life and well-being to his young son.
Gabriel Jaime es un hombre de 28 años de edad, padre de un hijo de 8 meses de nacido y actualmente es soltero. Actualmente se dedica a la confección, actividad que realiza hace 2 meses, después de haberse capacitado en confección y estampados, con lo cual ha obtenido ingresos para apoyar el sostenimiento de su familia. El crédito que solicita lo desea invertir en la compra de dos máquinas, una fileteadora y una recubridora y comprar insumos (telas, hilos, botones), con el fin de confeccionar un producto de muy buena calidad y venderlo a sus familiares y amigos. Su principal sueño es tener su negocio en un local propio bien ubicado, donde pueda ofrecer sus servicios completos, con estampados actuales y productos bien terminados y de excelente calidad, esto le permitirá aumentar sus ingresos para poder ofrecerle bienestar y una mejor calidad de vida a su pequeño hijo.
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.