Carlos, 63 years old, is engaged in making cleaning implements such as brooms and mops, an activity he began empirically and that arose from the need to generate income to support his family. He works alone every day from 7:00 am to 6:00 pm, depending on the amount of products that he must deliver since production is done manually. In this way, he has managed to raise his son, who will soon be a lawyer. Currently, he is requesting the help of this loan to invest in the purchase of wholesale supplies such as wood, scraps of cloth, wire, and other items. His goal is to stock up and have the material available to make timely delivery of his pending orders. Thus, he will increase his sales, which will help him pay for his basic household needs and continue investing in his business. His main desire for the near future is to implement technology in his business in order to optimize production time. This will enable him to acquire larger orders that generate higher profits and financial stability and enjoy better well-being and quality of life.
Carlos, a sus 63 años de edad, se dedica a la fabricación de artículos de aseo como escobas y trapeadoras, actividad que inició de manera empírica y que surgió de la necesidad de generar ingresos para el sustento de su familia. Trabaja solo todos los días, en un horario de 7:00 am a 6:00 pm o dependiendo de la cantidad de producción que debe entregar, ya que la elaboración es muy manual; de esta manera ha logrado sacar adelante a su hijo quien ya pronto será abogado. Actualmente solicita el apoyo del crédito para invertirlo en la compra de insumos al por mayor (madera, retazos de tela, alambre, entre otros), con el fin de abastecerse y tener el material disponible para cumplir con la entrega oportuna de los pedidos que tiene pendientes, y así aumentar sus ventas, lo que le ayudará a solventar las necesidades básicas de su hogar y seguir invirtiendo en su negocio, pues su principal anhelo para un futuro cercano, es tecnificar su actividad para optimizar el tiempo de producción y así poder adquirir pedidos más grandes que le generen una mayor rentabilidad y estabilidad económica para disfrutar de un mejor bienestar y calidad 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.