For a long time Ede Manuel has had a dental parts factory, which his father began. From a very early age, Ede Manuel started working with his father. When his father died, he was left in charge of the business, which now is his source of income to support his home, where he lives with his wife and his 3-year-old daughter.
At his factory, he has worked hard with the intention to keep and grow the business that is the source of income to provide his family a good quality of life and economic stability.
Thanks to the fact that he has had very good sales lately, Ede Manuel is asking for a loan, which will give him the opportunity to buy the raw material that he needs for the manufacture of dental pieces needed to fill his customers' big orders.
In this way, his business will continue to grow and give him a stable income source for his family. Ede Manuel dreams that his business will allow them to progress economically and to buy their own home.
Ede Manuel tiene una fábrica de piezas dentales desde hace un largo tiempo, la cual inició su padre y trabajaba con el desde muy temprana edad. Cuando su padre murió, quedó a cargo de esta y ahora es su fuente de ingresos para el sostenimiento de su hogar donde convive con su esposa y su hija de 3 años de edad. En su fábrica, ha trabajado fuertemente con el ánimo de poderla sacar adelante y seguir teniéndola como su fuente de ingresos para ofrecer en su hogar una buena calidad de vida y una buena estabilidad económica. Gracias a que últimamente ha logrado tener muy buenas ventas, Ede Manuel busca que un préstamo le brinde la oportunidad de comprar la materia prima que requiere para la fabricación de sus piezas dentales y poder responder a los grandes pedidos de sus clientes.
De esta manera su negocio seguirá creciendo y podrá seguir teniendo unos ingresos estables para su familia. Ede Manuel sueña con que su negocio les permita progresar económicamente y poder comprar su casa propia.
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.