Javier has been working as a locksmith for 23 years. Unfortunately one of his troubles is that he doesn't have all the necessary tools to complete his work entirely, which is why on several occasions he has been unable to do so. This is why he needs to purchase various tools that would, aside from facilitating the work, make it possible to offer other services to his clients. This way he can improve his quality of life.
Javier trabaja la cerrajería hace 23 años, sin embargo una de sus dificultades es que no tiene todas las herramientas necesarias para poder realizar completamente su trabajo y por eso ha habido ocasiones que no puede realizar, es por esto que necesita comprar varias herramientas que además de facilitarle el trabajo tiene la posibilidad de ofrecer otros trabajos a sus clientes y así podrá mejorar su calidad de vida.
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.