Jorge is a man of great ambitions and goals. At the age of 57, he has very clear ideas where he wants his dreams to take him.
He has a business of selling handicrafts such as leather wallets and articles made from wool. In addition to this, he knows how to make handicrafts, thanks to his 45 years of experience in this market.
He is applying for a loan to acquire more of these products and thus meet the demand that he has for artisanal articles.
One of his objectives is to travel to the towns of Antioquia and offer his products at the fairs, since it is an event with a great influx of potential customers.
He wants to have a shop in which to have his objects and articles exhibited, since for now he works as a itinerant vendor making long trips. On of his greatest difficulties is the rainy season, when his sales go down considerably.
Jorge es un hombre de grandes ambiciones y objetivos, a sus 57 años tiene muy claro hasta donde desea llegar con sus sueños.
El tiene un negocio de comercialización de artesanías como billeteras en cuero y artículos fabricados en lana. Adicional a esto sabe fabricar artesanías gracias a su experiencia de 45 años en este mercado.
El solicita un préstamo para adquirir mar referencias de productos y así cumplir con la demanda de artículos artesanales que tiene.
Uno de sus objetivos es viajar a los municipios de Antioquia y ofrecer sus productos en las ferias, ya que es un evento con gran afluencia de posibles clientes.
El desea tener un local en el cual tener sus objetos y artículos exhibidos ya que por ahora este oficio lo realiza ambulantemente durante largas jornadas.
Una de sus mayores dificultades es la época de lluvia en la cual sus ventas disminuyen considerablemente.
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.