Oscar, age 65, works in his own business. He started his tire installation shop with the intent of improving his living conditions. His business is located in a small shop located near his home. There he offers his services from 6:00 A.M. to 8:00 P.M. He takes advantage of the fact that his shop has recognition since a similar business was located there previously.
Oscar learned this line of work thanks to his experience driving these types of vehicles. This forced him to learn about mechanical repairs and how to change tires. The loan he is requesting will be invested in the purchase of wholesale supplies such as rims, tires, patches, and other items. This will allow him to continue his work so that he can provide his services more easily and efficiently. As a result, Oscar will be able to increase his clientele and the income he receives for providing this service.
Oscar wants to continue advancing and strengthening his business so that he can enjoy financial stability. This will give him the opportunity to acquire a house of his own so that he can enjoy the fruits of his hard labor along with his wife.
Oscar, con 65 años de edad, se dedica a trabajar en su propio negocio, un montallantas que inició con el ideal de mejorar sus condiciones de vida, se encuentra ubicado en un pequeño local cerca a su lugar de residencia; allí ofrece el servicio desde las 6:00 am hasta las 8:00 pm, aprovechando la ventaja de que el local ya es reconocido porque anteriormente allí funcionaba un negocio del mismo tipo. Oscar aprendió esta labor gracias a su experiencia como conductor de vehículos, pues se veía obligado a realizar labores de mecánica y cambio de llantas. El crédito que solicita desea invertirlo en la compra de insumos al por mayor (llantas, neumáticos, parches, entre otros) con lo que podrá seguir con su labor y prestar un servicio de manera más ágil y eficiente, esto se verá reflejado en el incremento de su clientela y de los ingresos que recibe por la prestación del servicio. Oscar desea seguir avanzando y fortalecer aún más su negocio para que le permita disfrutar de una estabilidad económica y le dé la oportunidad de adquirir una casa propia para disfrutar los frutos de su ardua labor en compañía de su esposa.
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.