Jaime lives with his partner. They have two children who are minors. They live in a rural area.
For many years, he has worked in the construction profession. Currently, he is a master of construction and has different contracts, among which are roof construction and maintenance. In his business, he has an inventory of wood.
His dream is to be able to increase his lumber yard and work this essential primary material for the activity performed. He also wishes to distribute it to other construction workers at better prices and in less time which gives him the possibility of increasing his clientele because of these advantages. With the money, he will acquire wood wholesale, increasing his profits, a benefit that will allow him to provide a higher standard of living to all of his family.
Jaime, vive con su compañera, tienen dos hijos menores de edad, viven en una zona rural, desde hace muchos años trabaja en el gremio de la construcción, actualmente es maestro de obras y hace diferentes contratos entre ellos la construcción y mantenimiento de techos, tiene en su negocio un inventario de maderas, su sueño es poder ampliar su depósito de maderas y trabajar esta materia prima primordial para la actividad desempeñada, y también le distribuye a otros constructores a mejores precios y menor tiempo de entrega lo que le da la posibilidad de aumentar su clientela por estas ventajas, con el dinero adquirirá madera al por mayor, aumentando sus ganancias, beneficio que le permite darle un nivel de vida a toda su familia.
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.