He is requesting a loan to purchase general hardware supplies such as hammers, wrenches, nails, etc. since he has decided to use his savings to finish his house, which he has been building with hard work and great effort.
This loan is very important, for it will allow him to continue building his house and to somehow show appreciation and results to the lenders who at some point have offered him help. He wants to tell them, "I succeeded. Look, I have almost finished my house and you are greatly responsible for giving me the confidence to create and expand my business."
Quiere solicitar un préstamo para la compra de insumos de ferretería en general. Martillos, llaves, clavos, en general todo lo que se encuentra ya que sus ahorros los está destinando a la finalización de su casa que con tanto trabajo y esfuerzo ha ido construyendo.
El crédito ser muy importante pues podrá continuar con la construcción de su casa y demostrar de alguna manera agradecimiento y resultado a los prestadores que alguna vez le ofrecieron su ayuda y decirles triunfe miren casi termino mi hogar y en gran parte ustedes son los responsables por darme la confianza de crear y hacer crecer mi negocio.
Important InformationThis 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.
About Housing Loans
Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.
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