Gustavo is a 49-year-old single father of three children. He wants them to get ahead, so he works hard so that he can generate income to provide for their education, food, and well-being.
For the past 25 years, Gustavo has worked at his own business. He has a carpentry shop located in a popular neighborhood in the town where he resides. Gustavo works at his shop beginning in the early morning hours so that he can generate the income he needs to take care of his family’s expenses.
The loan he is requesting will be invested in the purchase of supplies such as wood, tacks, industrial adhesives, and paint. This will allow him to complete his outstanding orders and deliver his products in a timely manner. These results will be reflected with an increase in sales and revenue.
Gustavo says that his greatest wish is to open a location where he can set up his own gallery for displaying all the furniture he produces. This would increase his clientele and his sales, which would improve the profitability of his business and provide him with greater financial stability. As a result, he and his children could enjoy a better quality of life.
Gustavo, a sus 49 años de edad, es padre soltero de 3 hijos a los que ha sacado adelante, trabajando arduas jornadas para generar ingresos y brindarles educación, alimento y bienestar.
Desde hace 25 años se dedica a trabajar en su propio negocio, una carpintería ubicada en un barrio popular del municipio donde reside, allí trabaja desde las primeras horas de la mañana para generar los recursos que le permiten solventar los gastos familiares.
El crédito que solicita será invertido en la compra de materia prima (madera, puntillas, pegante industrial, pinturas), con el fin de cumplir con una producción que tiene pendiente y así entregar de manera oportuna los pedidos, esto se reflejará en un mayor nivel de ventas y de ingresos.
Gustavo manifiesta que su mayor anhelo es abrir un local y tener su propia galería en la que pueda exhibir todos los muebles que produce, así aumentaría su clientela y sus ventas, mejorando la rentabilidad del negocio para tener una mayor estabilidad económica y disfrutar una mejor calidad de vida en compañía de sus hijos.
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.