Angel is a hardworking and thriving 51-year-old man. He has earned a living on his own, working long shifts at a supermarket in the sector where he lives. He worked there for 10 years but, with the goal of improving his income and being independent, he decided to retire from his job and begin to work with a friend making and selling gold and silver jewelry. He learned this business from his friend and partner but, after a period of time, decided to work alone because he had several problems with his partner.
He has been working independently for 16 years. He sells jewelry that he buys in the city and also purchases gold to melt and create new designs. This allows him to generate enough income to cover personal expenses.
He will invest the loan in the purchase of raw material in bulk (gold and silver). This will allow him to have enough material available to make new, innovative designs that will satisfy his customers' tastes. It will also allow him to increase his sales and earnings, which he can reinvest in his business and continue fighting to achieve his dream of expanding his business and improving his living conditions and well-being.
Ángel es un hombre trabajador y pujante de 51 años de edad, se ha ganado la vida a pulso, trabajando extensas jornadas como empleado en un supermercado del sector donde reside, allí prestó sus servicios durante 10 años pero, con el ánimo de mejorar sus ingresos y ser independiente, decidió retirarse de su empleo y comenzó a trabajar con un amigo elaborando y comercializando joyas en oro y plata, el oficio lo aprendió de su amigo y socio, pero luego de un tiempo siguió trabajando solo, pues tuvo varios inconvenientes con su socio. Actualmente lleva 16 años trabajando como independiente, vende joyas que compra en la ciudad y además compra oro para fundir y hacer nuevos diseños; esto le ha permitido generar los recursos suficientes para solventar sus gastos personales.
El crédito será invertido en la compra de materia prima al por mayor (oro y plata), esto le permitirá tener material disponible para elaborar nuevos e innovadores diseños con los que pueda satisfacer los gustos de su clientela y así mejorar el nivel de ventas e ingresos, con los que podrá reinvertir en su negocio y seguir luchando para cumplir el sueño de ampliar su negocio y mejorar las condiciones de vida 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.