Luis, 33, is considered to be an exemplary husband and father. He is hard-working and humble. He has been an automobile electrician for his entire productive life. Several months ago he opened his own workshop near to the central area of his municipality. He works there every day from 7 am to 7 pm. This is how he has generated a sufficient income to provide for his wife and two children, ages 11 and 2.
He will use this loan to buy an oscilloscope. With this purchase, he will be able to increase his profitability; he will be able to measure the electrical signals with greater flexibility and precision. This will allow him to increase his capacity for attending to customers, which will make his business more profitable.
Luis says that his short-term goal is to have a business that is well-positioned in the market and guarantees profitability and economic stability so that he can give his children a better education and offer them better well-being.
Luis es considerado un padre y esposo ejemplar, trabajador y humilde; a sus 33 años de edad, se desempeña como electricista automotriz, actividad a la que se ha dedicado durante toda su vida productiva. Hace algunos meses inició su propio taller cerca al tránsito del municipio donde reside; allí trabaja todos los días de 7:00 am a 7:00 pm; así ha generado los ingresos suficientes para brindar el sustento a su esposa y sus dos hijos de 11 y 2 años de edad.
El crédito será destinado para comprar un osciloscopio, con el que podrá mejorar el rendimiento en sus trabajos, pues podrá medir las señales eléctricas con mayor agilidad y precisión; así estará en la capacidad de atender mayor número de clientes, lo que le dará mejor rentabilidad.
Luis manifiesta que su objetivo a corto plazo es tener un negocio muy bien posicionado en el mercado, que le garantice una rentabilidad y estabilidad económica favorable para dar a sus hijos una mejor educación y ofrecerles un mejor 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.