For five years Jhon Ferley has been in the locksmith business. He learned his trade at the municipal training institute in Medellín in the department of Antioquia. Now he makes items such as industrial steps, bridges, windows, grilles and other products required by his customers. Jhon generates one place of employment. His greatest goal is to one day have a business that will generate more employment and be recognized in the sector. He knows that that will increase his income and allow him to help many people.
On of his top priorities is to buy work tools, but he does not have the capital to do so. Therefore, he is requesting a loan that will allow him to speed up his production process and delivery of the work orders so the customers will be satisfied with his service. Sales will increase and his quality of life will be more pomising in proportion.
Desde hace 5 años Jhon Ferley se dedica a la cerrajería, labor que aprendió en un instituto de capacitación del municipio de Medellín en el departamento de Antioquia, hoy en día hace escaletas industriales, puentes, ventanas, rejas, y mas productos que sus clientes requieran. Jhon genera 1 empleo; su mayor sueño es llegara tener un gran negocio donde genere mas empleos y que sea reconocido en el sector, pues así sabe que sus ingresos se incrementarán y podrá ayudarme a mucha mas gente.
Una de sus necesidades prioritarias en el momento es la compra de herramientas de trabajo, pero no cuenta con el capital para hacer dichas compras, por lo cual hoy solicita un crédito que le permita agilizar sus procesos de producción, y entrega del trabajo final, así los clientes estarán mas satisfechos con el servicio las ventas mejorarán y proporcionalmente su calidad de vida será mas prometedora.
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.