Carlos is 51 years old and has worked as a carpenter for 13 years. He developed his potential thanks to a relative who taught him the art of turning wood into marvelous items that are decorative and functional.
Through his work he has managed to provide a better life for his family, offering a good education to his two young children. Four years ago he opened his own shop, which he runs independently. From eight in the morning to eight at night, he makes all types of items - furniture, beds, chairs and dining room tables.
He is currently seeking a loan in order to buy raw materials and to make improvements to his shop. His goal is to increase his sales and guarantee better living conditions for his family.
Carlos de 51 años de edad, practica el oficio de la carpintería desde hace 13 años. Desarrolló su potencial gracias a un pariente que le enseñó el arte de convertir la madera en maravillosos artículos decorativos y funcionales.
Con su actividad ha logrado sacar adelante a su familia, ofreciéndoles a sus dos hijos menores de edad una buena educación.
Desde hace cuatro años montó su propio taller y labora como independiente. De ocho de la mañana a ocho de la noche, realiza todo tipo de artículos (muebles, camas, sillones, comedores)
En la actualidad Carlos se encuentra solicitando un crédito que invertirá en la compra de materias primas y adecuación del local, con el fin de aumentar sus ventas y garantizarle a su familia mejores condiciones 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.