Jaime is a 42-year-old man who has been making his living working in the art of carpentry for the last 10 years. He set up his own business thanks to one of his friends who showed him the tricks of the trade at a time in which his family was going through a hard time financially speaking. He works from Monday to Saturday and has the help of a direct employee.
His enthusiasm, enterprising spirit and his dedication to work make Jaime a true example to follow for his two children for whom he fights on a constant basis to get them ahead in life. This encouraged him to seek this loan which he wants to invest in the purchase of raw materials in bulk (wood and paint) with which he will be able to enough material on hand to satisfy the needs and various taste of his customers and therein offer them a more flexible and reliable service at the moment of delivering the orders. This will be reflected in the increase in sales and profits that he will make. Jaime fervently wants to continue working so that in the near future doors will open and he will be able to set up a furniture store where he will be able to sell all the products he makes and this will enable him to generate a greater amount of income to give his family better living conditions.
Jaime, es un hombre de 42 años de edad que se dedica desde hace 10 años a trabajar el arte de la carpintería, negocio propio que inició en el momento en que su familia pasaba por una difícil situación económica y gracias a un amigo suyo que le enseñó la labor. Trabaja de Lunes a Sábado y cuenta con el apoyo de un empleado directo. Su entusiasmo, espíritu emprendedor y su dedicación al trabajo hacen de Jaime un ejemplo a seguir para sus 2 hijos, por quienes lucha constantemente para sacarlos adelante. Esto lo motiva a solicitar el crédito que desea invertir en la compra de materia prima al por mayor (madera y pintura) con lo que podrá tener disponibilidad suficiente para satisfacer las necesidades y diversos gustos de sus clientes y, ofrecerles un servicio más ágil y oportuno en el momento de entregar sus pedidos; esto se reflejará en el incremento de sus ventas y de los ingresos que recibe. Jaime desea seguir trabajando arduamente para que en un futuro cercano se le abran las puertas y pueda montar una galería de muebles donde pueda comercializar todos los productos que elabora y que esto le permita generar mayor nivel de ingresos para dar a su familia mejores condiciones de vida y bienestar.
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.