Five months ago, this clever entrepreneur arrived in Columbia from the beautiful city of Madrid, Spain. His profession is very specific; he makes toys, gymnasiums, beds, and houses for dogs and cats. We can see an example of his creativity and the quality of his work in the photo.
He came to Columbia because of the crisis going on in Madrid and in search of a better life and so he could have the means to support himself in Columbia with this innovative project that you don't see much in Medellín.
He is requesting a loan to buy wood, fabric, and glue. This loan is very important to him for his big project, which is new in this country, and he is incredibly thankful to the corporation for supporting him and giving him a hand in branching out into an adventure that is totally new to him.
Hace 5 meses llego a Colombia este ingenioso Emprendedor procedente de la hermosa ciudad de Madrid España, su profesión es muy particular fabrica juguetes, gimnasios, colchonetas, casas para perros y gatos un ejemplo de su creatividad y calidad de productos la podemos ver en la foto.
Llego a Colombia debido a la crisis que existe en Madrid y en busca de una mejor vida y poder tener recursos para mantenerse recala en Colombia con este innovador proyecto que es poco visto en el Medellín.
Solicita un crédito para la compra de madera, tela, y pegantes, para él crédito es de mucha importancia pro el gran motivo que es nuevo en el país y le agradece enormemente a la corporación pro apoyarlo y darle la mano para aventurarse en una aventura totalmente nueva para él.
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.