Luis is an active and hardworking thirty-year-old man who has spent his working life involved in the beauty business. He started out by taking some training courses and then started working at different beauty salons and hairdresser's.
Some time later he decided to become independent and start his own business, in hopes of improving his personal income. That is how his beauty salon got started. He works there every day offering his services: haircuts, hairdos, barber shop, manicure, and pedicure. He is well known in his field thanks to his good work.
He is currently requesting this loan in order to pay off the balance on a loan he has pending with another organization that has a higher interest rate and to make improvements to his business location (painting the walls. This will allow him to improve his business' image so that it is brighter and may attract new potential customers who by receiving his services will help his income improve.
Luis' medium-term goal is to further boost and strengthen his business and convert it into a spa where he can offer many more services and have more profitability in order to enjoy a better quality of life.
Luis es un hombre activo y trabajador de 30 años de edad que durante su vida productiva ha trabajado en el área de la belleza, inició tomando cursos de capacitación y luego comenzó a trabajar en diferentes salas de belleza y peluquerías; un tiempo después tomó la decisión de independizarse y montar su propio negocio con el ánimo de mejorar los ingresos personales; fue así como surgió su sala de belleza, donde trabaja todos los días prestando el servicio de corte, cepillados, barbería, manicure y pedicure; gracias a su buen trabajo ya es reconocido en el sector.
Actualmente solicita el crédito con el fin de realizar mejoras locativas al establecimiento (pintar paredes) y pagar el saldo de un crédito que tiene vigente; esto le permitirá dar una mejor imagen al negocio que sea más llamativa para atraer nuevos y potenciales clientes, que le mejoren los ingresos por la prestación de sus servicios.
Luis tiene como meta a mediano plazo, acreditar y fortalecer aún más su negocio y convertirlo en un spa, donde ofrezca muchos más servicios y pueda tener mayor rentabilidad para que le permita disfrutar 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.