Héctor is married and father of two children who are 17 and 19 years old. He’s spent a large part of his productive life as a furniture upholsterer and with the experience he acquired opened his own workshop in a very well-located spot in the town he lives in. He became known there by everyone in town and taking advantage of his shop’s good location he decided to organize an display area to sell fabric, glue, cushion-making supplies, supplies, filling, pillows and mattresses among others aiming at generating higher income to support his home.
His drive, experience and dedication have led to his becoming well-known in the sector which is profitable for him since his customers refer him to others and his sales grow this way.
He’s currently asking for the loan to buy supplies at wholesale (fabric, adhesives, foam, filling, paint, cushions, pads, chair-making supplies, etc. to be able to have all the supplies on-hand needed to meet demand and customer needs thus improving the level of income used to support his family.
Héctor would like to continue working hard to reach his goal of owning a point of sales or gallery in his workshop to be able to sell all the items he manufactures for this will allow him to earn higher income that he will be able to use to provide his children with a good university education and will also improve his entire immediate family’s quality of life.
Héctor es un hombre casado y padre de dos hijos de 17 y 19 años. Durante gran parte de su vida productiva se ha dedicado a la labor de la tapicería de muebles y, con la experiencia obtenida inició su propio taller en un local muy bien ubicado en el pueblo donde reside. Allí se dio a conocer en todo el pueblo y aprovechando la buena ubicación de su negocio, decidió organizar una exhibición para vender telas, pegantes, cojinería, insumos, relleno, almohadas, colchones, entre otros, con el fin de generar más ingresos para llevar el sustento a su hogar. Su empuje, experiencia y dedicación le han permitido ser reconocido en el sector, con lo que se beneficia ya que sus clientes lo refieren a otras personas y así va aumentando sus ventas. Actualmente solicita el crédito para comprar insumos al por mayor (telas, pegantes, espuma, relleno, pintura, cojines, colchonetas, silletería, entre otros), de esta forma podrá trabajar con todos los insumos necesarios para satisfacer la demanda y los requerimientos de su clientela, mejorando así el nivel de ingresos con los que sostiene a su familia. Héctor desea seguir trabajando arduamente para cumplir el sueño de tener un punto de venta o galería en el mismo taller y así poder vender todos los productos que elabora, pues esto le permitirá tener mejores ingresos con los que podrá dar a sus hijos una buena educación universitaria y mejorará la calidad de vida de todo el núcleo familiar.
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.