Norbey has been married for a year and, like a great entrepreneur, has a transportation services business, where he works hard daily to get ahead. Given the financial difficulties in his home, his efforts allow him to get ahead, and his charisma allows him to obtain good customers and increase the number little by little. Norbey wants to improve his working conditions and offer better service to his customers, so he is asking for this loan so that he can renovate his car and equipment.
His great dream is to buy a new vehicle so that he can increase his transportation services and his income. In this way his family can have a better quality of life and better financial opportunities.
Norbey se encuentra casado desde hace un año y como gran emprendedor que siempre se ha resaltado, tiene un negocio de servicio de transporte el cual se esfuerza diariamente por sacar adelante. Pese a las grandes dificultades económicas que padece en su hogar, su esfuerzo permite que puedan salir adelante, además que su gran carisma le ha permitido tener buenos clientes que crecen poco a poco. Buscando mejorar las condiciones de trabajo y poder ofrecer un mejor servicio, Norbey busca un préstamo para renovar su coche y un equino, para así poder ofrecer un mejor servicio a sus clientes.
Su gran sueño es poder comprarse un vehículo con el cual aumente los servicios de transporte y así aumenten sus ingresos, de modo que en su hogar puedan tener una mejor calidad de vida y mayores oportunidades económicas.
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.