Diego is 24 years old and works as a landscaper on various farms around his home as well as in neighboring towns. He learned this trade from his father who was also a landscaper. With the income he earns, he contributes to his humble family's finances. His tenacity, drive and his spirit for improvement, have allowed him to find alternatives to continue advancing.
He is seeking the help of a second loan with which he will purchase a lawn trimmer and pay the balance of his existing loan. This will allow him to replace his current machine that has been causing him problems. Although it is under repair, there is no guarantee that it will continue to function. The new machine will allow him to continue to work and strengthen his business so that in the future it will be profitable and he can continue to help his parents maintain their home and guarantee a better quality of life for everyone.
Diego es un joven de 24 años de edad que se dedica a prestar el servicio de corte y mantenimiento de céspedes y jardines en diferentes fincas de la vereda donde reside y en pueblos aledaños al sector; esta actividad la aprendió de su padre, quien también se dedica a esta labor. Con los ingresos que genera, aporta a la economía de su humilde familia. Su tenacidad, empuje y espíritu de superación le han permitido encontrar alternativas para seguir avanzando, por esa razón, solicita el apoyo de su segundo ciclo de crédito con el que comprará una guadañadora y pagará el saldo de un crédito que tiene vigente, de esta forma podrá reemplazar la máquina que posee, pues actualmente presenta problemas y está en reparación pero no tiene la garantía que siga funcionando; así continuará realizando su labor y podrá seguir acreditando y fortaleciendo su negocio, para que en un futuro éste sea económicamente rentable y le permita seguir ayudando a sus padres con la manutención de su hogar, garantizando una mejor calidad de vida para todos.
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.