Alberto is 23 years old and has spent more than three years doing repairs and maintenance on motorcycles. He started this business taking advantage of his being the only service offered in the area. He has had good results as it is an area with a lot of motorcycle taxis. With his profits he has been able to support his household.
Alberto is a likeable, energetic young man who is passionate about his work. He is always looking for ways to get ahead. He is asking for this his third loan to help him buy spare parts (spark plugs, tires, patches, rear-view mirrors) a display case and make some improvements to his work space which will allow him to have more room to work in. By doing this he will have the supplies on hand to offer excellent service and thereby increasing his income.
Alberto dreams of doing his business in a bigger shop where he can make repairs and also allow him to start selling spare parts and accessories for motorcycles. This would give him more opportunities for work and gain more means to improve his living standard.
Alberto es un hombre de 23 años de edad, dedicado hace más de 3 años a la reparación y mantenimiento de motos en un taller que inició, aprovechando la oportunidad de ser el único que presta el servicio en la zona, donde ha tenido muy buenos resultados, gracias a que es un sector donde se presta el servicio de moto taxis; con esto ha generado ingresos para el sustento de su hogar. Alberto es un joven enérgico, amable y apasionado por su trabajo, siempre está en busca de oportunidades que le permitan seguir adelante, por eso solicita su tercer ciclo de crédito como apoyo, para comprar repuestos (bujías, neumáticos, parches, retrovisores), una vitrina y realizar unas mejoras en el local que le permitirá tener una espacio de trabajo más amplio, con esto tendrá disponibilidad de insumos para prestar un excelente servicio y así aumentará sus ingresos. Alberto sueña con tener su negocio en un local más grande donde pueda ofrecer el servicio de reparación y que le permita implementar la venta de repuestos y accesorios para moto, con el fin de brindar más oportunidades de empleo y adquirir recursos para mejorar su calidad de vida.
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.