Luis Felipe is 20 years old, a hard working young man who is seeking to make a living and support his family with expenses at home. He has worked for 5 years in the removal of material from the beach as an economic activity. He dreams of finishing his studies and obtaining better opportunities in the world of work. Currently he is requesting a loan that he will invest in the purchase of a horse with the goal of starting to work on his own in the same sector.
His greatest desire is to improve the quality of life of his mother and siblings.
Luis Felipe de 20 años de edad, es un joven trabajador que busca como ganarse la vida y colaborarle a su familia con los gastos del hogar. Labora desde hace cinco años en la extracción de material de playa como actividad económica. Sueña con terminar sus estudios y obtener mejores oportunidades en el mundo laboral. En la actualidad se encuentra solicitando un crédito que invertirá en la compra de un caballo con el fin de iniciar a laborar como independiente en el mismo sector.
Su mayor deseo es mejorar la calidad de vida de su madre y hermanos.
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.