Santiago is a young entrepreneur, who ever since he was 14 years old, has known the art of making clothes. He helped his family members do diverse jobs like finishing garments and putting on the finishing touches, among others. This experience allowed him to get three machines in order to start his own shop. In his shop he provides sewing services to third parties. He makes sports uniforms for four educational entities in his area.
For some time he alternated his work with his studies because he was finishing his high school education. Nowadays he works full time in his shop. He also has help from two direct employees. This way he has generated enough financial resources to contribute to his household’s finances.
His energy, positive attitude, drive, and the dedication with which he does his work have allowed him to fulfill the objectives that he sets for himself. That is why he is motivated to request the loan to buy supplies wholesale (fabric, thread, elastic, and buttons, among others). He will also perform maintenance on his machines. This will allow him to have the raw material to make the garments and to be able to finish his orders in a timely fashion. He will also be able to streamline the production with renovated machinery, which will allow him to get products with excellent finishing and satisfy his customers’ needs.
All of this will produce, as a result, an increase in the income that he gets in order to continue supporting his family. Santiago wishes to continue his work. He wants to firmly establish and strengthen his shop even more in order to fulfill his dream of expanding it and generating more opportunities for direct employment. This will benefit not only his family, but it will benefit other people who have an effect on this hard work. To him, this means having a better quality of life.
Santiago es un joven emprendedor que, desde los 14 años de edad conoce el arte de la confección, pues ayudaba a sus familiares realizando diversas labores como terminación de prendas, pulido, entre otras; esta experiencia le permitió adquirir 3 máquinas para comenzar su propio taller donde presta el servicio de confección a terceros, elaborando uniformes deportivos para 4 entidades educativas del sector; durante algún tiempo alternaba su labor con el estudio, pues se encontraba culminando sus estudios secundarios y, hoy en día dedica tiempo completo a su taller, además cuenta con el apoyo de 2 empleados directos; de esta forma ha generado los recursos económicos suficientes para aportar a la economía de su hogar. Su energía y actitud positiva, el empuje y la dedicación con la que realiza su trabajo, le han permitido cumplir los objetivos que se propones; es por ello que se motiva a solicitar el crédito con el que comprará insumos al por mayor (telas, hilos, elásticos, botones, entre otros) y realizará mantenimiento a sus máquinas; esto le permitirá contar con la materia prima para elaborar las prendas y poder cumplir oportunamente con los tiempos de entrega, además podrá agilizar la producción con maquinaria renovada, que le permita sacar productos con excelente terminación y satisfacer las necesidades de sus clientes. Todo esto dará como resultado un incremento en los ingresos que obtiene para seguir apoyando a su familia. Santiago desea continuar con su labor, acreditando y fortaleciendo aún más su taller, para llegar a cumplir el sueño de ampliarlo y generar más oportunidades de empleo directo, que beneficie no sólo a su familia, sino a las demás personas que influyan en esta ardua labor; lo que para él significa tener mejor 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.