From his mother, he learned leather crafting. Later, after having obtained experience and all the necessary knowledge, he decided to become independent and open his own workshop in a rented location. There he makes belts, purses, saddles, halters, cell phone cases, and other items. This way, he provides for the needs and likes of the residents of his village. This allows him to improve his sales and income from his work.
He is requesting a loan to help him buy basic materials wholesale (leather, studs, paint, buckles, and other items). This will allow him to continue with his work and offer a greater variety of products in order to improve his sales and income.
Carlos says that his goal is to acquire his own workshop to continue with his work and thus make his business more profitable. This will allow him to generate favourable economic stability in order to offer his children a quality education and in order to provide his entire family with a greater quality of life.
En compañía de su madre, aprendió el oficio de la talabartería y, luego de haber obtenido experiencia y todos los conocimientos necesarios, decidió independizarse y montar su propio taller en un local arrendado; allí fabrica correas, bolsos, monturas, cabestros, estuches para celulares, entre otros, de esta forma satisface las necesidades y gustos de los habitantes de su pueblo, lo que le permite mejorar las ventas e ingresos que percibe con su labor.
El crédito que solicita es un apoyo para comprar materia prima al por mayor (cuero, taches, pintura, hebillas y otros), esto le permitirá continuar con su labor y podrá ofrecer más variedad de productos, para mejorar las ventas e ingresos.
Carlos manifiesta que su propósito es adquirir un local propio para continuar con su labor y así hacer que su negocio sea más rentable, permitiendo generar una estabilidad económica favorable para brindar una educación de calidad a sus hijos y ofrecer una mejor calidad de vida para toda la familia.
More information about this loan
By funding this loan, you are promoting entrepreneurship in remote regions, including areas recovering from guerilla warfare in Colombia, and helping to reverse the rural exodus which occurred in the past decades when a the rural population fled their countryside homes for the safer cities.
This Kiva loan was created by Kiva's field partner Interactuar specifically for Kiva funding, in an effort to reach more borrowers in rural areas. Most of the Interactuar's lending operations are focused in urban parts of Medellin. But this loan product is designed to provide working capital to riskier agricultural businesses who have been traditionally excluded from the finance sector.
Important InformationThis 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.
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