Luis, 27 years old, is the father of two children, ages 5 and 2, and he lives with his partner in a common law marriage. Starting about six years ago, he got into the field of sewing clothing, thanks to the encouragement and teaching from his wife, with whom he currently works (see the photo) every day from 7:00 am until 9:00 pm. They do contract sewing work, and have the advantage of being able to work from home. This way, they are able to generate enough income to meet their needs and the basic expenses of their home. With tenacity, drive, and determination, he has been able to get ahead with his business. He is recognized in the area for his career path and the experience that he has, an in addition for the excellent quality of his products.
This has led him to request this loan with the goal of investing it in supplies purchased at wholesale, including fabric, thread, elastics, and buttons. This increase in inventory will let him finish the sewing projects that he has outstanding for the end-of-year season and meet the needs of his customers. In this way, he will increase his income and his opportunities for future contracts. He dreams of expanding his business, creating employment opportunities, and providing his children with an excellent education and a secure well-being.
Luis, a sus 27 años de edad, es padre de dos hijos de 5 y 2 años y vive con su pareja sentimental en unión libre. Desde hace aproximadamente 6 años se involucró en el campo de la confección gracias a la motivación, las enseñanzas y el impulso que le dio su esposa con quien trabaja actualmente (ver foto) todos los días de 7:00 am a 9:00 pm, ofrece el servicio de confección a terceros y con la ventaja de trabajar desde la comodidad de su casa; de esta manera genera los recursos suficientes para sustentar las necesidades y gastos básicos de su hogar. Con tenacidad, empuje y mucha dedicación ha logrado sacar adelante su negocio, lo que le ha permitido ser reconocido en el sector por la trayectoria y la experiencia que posee, además de la excelente calidad de sus productos; esto lo lleva a solicitar el crédito con el fin de invertirlo en la compra de insumos al por mayor (telas, hilos, elásticos, botones) para tener disponibilidad de inventario y así poder culminar los procesos de confección que tiene pendientes para la temporada de fin de año y, poder cumplir con la entrega oportuna a sus clientes. De esta forma mejorará los ingresos que recibe y podrá tener más contratos para el futuro, en el que sueña ampliar su negocio, generar más oportunidades de empleo y brindar a sus hijos una excelente educación 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.