They are requesting a loan to purchase an electric saw and some hand tools that will allow them to work more comfortably. They currently have to use the saw at a local cabinetmaker's shop. Their workshop is located in his friend's home, which is where their great ideas for artisan crafts come from.
The greatest challenge that Edwin faces is the low value that people place on his creations. His greatest dream is to be able to expand his business and create various objects that he can sell in the artisan market.
En estos momentos se encuentran solicitando un crédito para adquirir una sierra eléctrica y algunas herramientas de mano, que les permitirá trabajar mas cómodamente, ya que le ha tocado utilizar el servicio de sierra en una ebanistería cercana a su lugar de trabajo.
El taller lo tienen ubicado en la casa de su amigo y desde allí salen las mas grandiosas ideas artesanales.
El mayor desafío que enfrenta este emprendedor joven es el poco valor que la gente en general le da a sus creaciones, y su mayor sueño es poder ampliar su negocio fabricando variados objetos que puedan comercializar en el mercado de las artesanías.
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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