35-year-old Wilson lives in the town of Medellín with his wife and his two underage children. After he became unemployed five years ago, he decided to provide messenger and home packet delivery services so that he could get an income to support his household. He first had this idea because he saw the need for it in his neighborhood; many of his neighbors needed to run errands, but didn't have enough time to do that. He works everyday from 8 a.m. to 7 p.m.
His biggest wish is to improve his financial conditions, because his children are currently in school and the expenses have increased. For that reason Wilson works hard everyday so that he can get more customers and improve his profits.
He's currently requesting a loan in order to repair his motorcycle, which is his only means of transportation and livelihood.
Wilson de 35 años, vive en la ciudad de Medellín con su esposa y sus dos hijos menores de edad. Desde hace cinco años, después de quedarse desempleado decidió prestar el servicio de mensajería y entrega de paquetes a domicilio, con el fin de generar ingresos para el sostenimiento de su hogar. La idea surgió a partir de la necesidad que encontró en su sector; muchos de sus vecinos necesitaban realizar diligencias, pero no contaban con el tiempo para hacerlo. Labora diariamente de ocho de la mañana a siete de la noche.
Su mayor anhelo es poder mejorar su condición económica debido a que sus hijos se encuentran en la escuela y los gastos han aumentado. Por esta razón Wilson cada día se esfuerza a fin de conseguir un mayor número de clientes para aumentar sus ingresos.
En la actualidad se encuentra solicitando un crédito para la reparación de su motocicleta, la cual es su único medio de transporte y empleo.
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.