Nicolás is 48 years old. He is married and has 2 children. He makes frames, an activity that he learned when he was young and worked in a shop that provided this service. He also knows about photography and does oil painting, which has enabled him to earn money to support his family. He sublets the space where he has his business, which reduces the earnings he makes on each sale and complicates his family's financial stability. He is an entrepreneurial man, wise and dedicated to his family and his work. For this reason he is requesting a loan which he will invest in a sander, a compressor, molding, and paintings, in order to continue with his business and offer a well-made and sanded product that meets the needs of each of his clients, so he can increase his sales and earnings. Nicolás dreams of having his own space for his business and of having many more customers who recognize him for his work and recommend him to others. He will save money by not having to pay rent, and he will invest his money in the business and improve his family's quality of life.
Nicolás es un hombre de 48 años de edad, es casado y tiene 2 hijos. Actualmente se dedica a la marquetería, actividad que conoció cuando era joven y laboraba en un taller que prestaba este servicio; además también tiene conocimiento sobre fotografía y hace pintura al óleo, con lo cual ha podido generar ingresos para el sostenimiento de su familia. El local donde presta el servicio es subarrendado y eso hace que las ganancias que obtiene por las ventas, se reduzcan, por lo tanto dificulta la estabilidad económica del hogar. Él es un señor emprendedor, juicioso y entregado a su familia y a su trabajo; es por eso que busca apoyo con el crédito, para invertirlo en la compra de una máquina pulidora, un compresor, molduras y pinturas, para continuar con su negocio y poder ofrecer un producto bien elaborado y pulido que satisfaga la necesidad de cada cliente y así aumentar sus ventas y sus ingresos. El señor Nicolás sueña con tener su negocio en un local propio y tener muchos más clientes que reconozcan su labor y lo recomienden a otras personas, porque así se ahorraría el pago del arriendo y ese dinero lo invertiría en su negocio y en mejorar la calidad de vida de su familia.
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.