Jorge is a vigorous and hard-working man of 39. He tends his own business, a mechanics workshop, and sells spare parts for vehicles. He learned this business while he was working as a driver of cars and trucks. He began by selling spare parts as a street vendor, carrying the products in a handcart through the various streets of the town. Little by little, he saved until he was able to rent the shop where his business is now located. In this way he has managed to support his three children and his wife.
The loan he has applied for will be a help to capitalize his business. With the money, he will buy wholesale spare parts (spark plugs, lights, brakes). This will allow him to offer better service to his customers, which will be reflected in the increase in his sales.
Jorge dreams of strengthening his business and achieving a greater profitability, which will allow him in the near future to open a branch of his workshop in another nearby town. This will give him a favorable economic stability in order to give his children an education and enjoy a better quality of life with his family.
Jorge es un hombre pujante y trabajador, a sus 39 años de edad se dedica a atender su propio negocio, un taller de mecánica y venta de repuestos para vehículos, aprendió el oficio mientras trabajaba como conductor de carros y camiones. Inició con la venta de repuestos de manera ambulante, los productos los llevaba en una carretilla por las diferentes calles del municipio; poco a poco fue ahorrando hasta que pudo tomar en arriendo el local donde se encuentra ubicado su negocio actualmente; de esta forma ha logrado sacar adelante a sus 3 hijos y su esposa.
El crédito solicitado es un apoyo para capitalizar su negocio, con el dinero comprará repuestos al por mayor (bujías, luces, frenos) esto le permitirá ofrecer un mejor servicio a su clientela, lo que se reflejará en el incremento de sus ventas.
Jorge sueña con acreditar bien su negocio y lograr una mayor rentabilidad, que le permita en un futuro cercano, montar una sucursal de su taller en otro municipio cercano, esto le dará una estabilidad económica favorable para dar educación a sus hijos y disfrutar una mejor calidad de vida con 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.