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Measuring and Managing Financial & Impact Performance of Income Share Agreements (ISAs)
December 13, 2019
A comprehensive ISAs dashboard to match financial metrics and impact This article was first published 13 December, 2019 on LinkedIn.
It is as important as ever to match financial metrics to impact and build a consensus around a set of shared fundamentals. Below, I introduce a comprehensive ISAs dashboard for investors, schools, and operators to consider when investing, launching and servicing programs, and evaluating the financial and impact performance of ISAs.
Enthusiasts praise ISAs as the most exciting innovation in higher education finance. Lawmakers, schools, policy advisors, and investors, compliment ISAs for being a much-needed alternative to private student and Federal Direct PLUS loans. They welcome the proposed pending legislation in Congress - the ISA Student Protection Act. They recognize that ISAs, when done right, could help tackle issues of affordability, quality, and student outcomes, as well as create pathways for good jobs that address labor shortage and future of work needs.
Today, ISAs are making inroads in traditional four-year colleges and becoming the preferred funding method in vocational, job-focused training programs, primarily coding bootcamps, though also among flight training, software-sales, commercial driver’s license, nursing, and life sciences programs. At large, ISAs appear to have the potential to play a key role in building a more effective, efficient, and equitable educational system.
As a result, many actors in the ISA ecosystem say they try to “do well by doing good”. Many of them really do and are working hard to scale ISAs with integrity. They are bringing greater transparency, legitimacy, and discipline to the ISA space. They are better aligning schools’ incentives with students’ needs and interests. They are offering investors an opportunity to support specific student outcomes and achieve financial returns alongside impact. At the same time, when getting past the headlines, others seem to be just jumping on the bandwagon of “impact washing”– using marketing jargon to entice and engage students, schools, and investors without delivering real impact or providing sufficient depth and details of how impact will be met.
Need for Shared Fundamentals
I am mindful that arguments over how to make, measure, and manage the biggest impact with ISAs can be as passionate as the 2020 U.S. presidential election. Nevertheless, it seems to me that it is as important as ever to match impact to financial metrics data so that the various actors in the space can evaluate whether ISAs are meeting their objectives or not, and ensure that in fact ISAs have the potential to build a more sustainable higher education financial system.
Let’s take, for instance, one of the biggest challenges that schools and operators face in order to accelerate adoption of ISA programs: securing flexible and diverse funding for ISAs at scale. Investors from across retail, HNWI, family offices, hedge funds, foundations, schools, pension funds, endowments, philanthropists, and wealth managers, are watching the space considering how their different risk-adjusted financial targets can be met. Not surprisingly, amongst the questions potential investors raise, they highlight ISAs limited track record, illiquidity and perception of additional risk. They also question the strength of ISAs in the wake of an economic slowdown and/or low-interest rate world (read more here). More sophisticated investors, particularly investment committees of professional and institutional investors, are strongly debating the intentionality and signals from ISA players.
At large, potential investors want to measure and compare their investment in the ISA space through a common set of financial and impact performance accounts. Whilst there is clearly no need to create a different set of performance and impact metrics for the various investors sitting across the return spectrum, why are existent investor materials and capital calls for investing into a “diversified, higher-yielding, less correlated pool of assets and cash flow streams” not accompanied by rigorous targets and practices for managing and measuring impact?
ISAs Financial and Impact Dashboard
To start the conversation about how we talk about financial and impact performance of ISAs, below are three dimensions of an ISA dashboard for investors, operators, and schools to consider.
First, from an investment viewpoint, a detailed overview of the ISA portfolio and financial performance data from all underlying income share agreements, as per the respective Risk Management & Collection policies in place.
Second, from a student position, and reported anonymously on an aggregate basis, a demographic and household characteristic profile upon ISA application, combined with survey information that sheds light into students’ attitudes towards debt, financial acumen, and employment desires and expectations. Subsequently, during studies and post-graduation, an overview of the impact of ISAs on the student cohort with regards to student success, employment and future of work, economic mobility, and financial and medical health.
Third, from an academic institution perspective, a profile of each school with itemized tuition and financial aid figures, overview of income share agreement program, eligibility criteria, and key terms.
Investment (as per risk management, servicing & collection policies)
Portfolio Overview
(e.g. total ISAs originated to date (USD), total number of disbursed ISAs, total number of disbursed ISAs students (by city, state, country), total number of schools & departments & majors offering ISAs (by city, state, country), etc.)
Financial Performance Data
- Parameters (e.g. weighted average income share (percentage of income), weighted average contractual duration (number of consecutive monthly payments required), weighted average remaining duration (number of consecutive monthly payments to fulfill contract), etc.)
- Status (e.g. total ISAs funded amount disbursed (USD) by repayment status, total ISAs outstanding balance amount (USD) by repayment status, percentage of late/overdue ISAs by stage, estimated illustrative yield based on ISAs funded amount disbursed, expected yield based on ISAs outstanding balance amount (USD) in performance book, ISA administration and servicing fees, etc.)
Students
Profiles (upon ISA application)
- Demographics (e.g. percentage of ISA students by gender, ethnicity, race, veteran status, who are disabled, who are the first generation of their family to attend college, who are DACA students, who are international students, who depend on an ISA to fund their degree, etc.)
- Debt Aversion (e.g. attitudes towards borrowing money, taking loans, use of credit cards, etc.)
- Financial Literacy (e.g. financial know-how to make informed and effective decisions)
- Employment Preferences and/or Experience (e.g. for undergraduate, percentage of ISA students working during the semester, avg. salary per month during the term or summer (by city, state, country), post-graduation employment industry preference, etc. For graduate students, avg. pre-study annual salary (by city, state, country), employment by industry, post-graduation employment industry preference, etc.)
- Household Characteristics (e.g. percentage of ISA students who have dependents (children/spouses), percentage of ISA students who support their family beyond direct dependents, parent's willingness to potentially take on debt incurred by the student, etc.)
Community Outputs (during studies and post-graduation)
- Study Success (e.g. percentage of ISA students who graduate, percentage of ISA students who graduate on time as per admission date, etc.)
- Employment / Future of Work (e.g. avg. and median gross base starting salary by major and graduation year, percentage year-on-year salary increase by major and graduation year, percentage of ISA students who believe their vocational/college/graduate degree has significantly increased their ability to obtain and retain a job, employer profile by company size (e.g. start-up, SMEs, large corporate or <50 FTE, 50-500 FTE, >500 FTE), etc.)
- Economic Mobility (e.g. percentage of ISA students who return to their home city, state, country post-graduation, who have lived in more than one U.S. domestic location post-graduation, who have lived in more than one international location post-graduation, etc.)
- Financial Health (e.g. percentage of ISA students who could not have financed their education without an ISA, who had a poor or no credit score at the time the ISA was approved, who attained good or prime credit score after X year(s) of ISA on-time payments, etc.)
- Medical Health (e.g. percentage of ISA students who have received information from their school about health topics, who are seeking or had sought counseling, who respond when asked to rate their overall health, etc.)
Academic Institutions (Four-year Colleges & Vocational Schools)
- Overview (e.g. total number of undergraduate and graduate students (by in-state, out-of-state, and international), average standardized test scores (i.e. SAT, ACT, GMAT, GMAC by majors), admission application stages and timelines, total cost of attendance, including tuition, student fees, estimated room & board and personal expenses, available scholarships and announcement timeline, etc.)
- Eligibility Criteria (e.g. list of majors with start, end, and graduation date, years of study (i.e. freshman, sophomore, junior, senior, graduate), average age at admission by year of study and majors, expected class size by year of study and majors, historic graduation rates by year of study and majors, historic employment rates by year of study and majors, etc.)
- Key Terms (e.g. total ISA amount available, tuition plus living expenses (by majors, year of study), total ISA tuition only amount available (by majors, year of study), total ISA living expenses amount available (by majors, year of study), income share (percentage of income), duration (number of consecutive monthly payments required), extension (number of months if income below minimum annual income threshold), grace period (study period plus up to X months post-graduation), minimum annual income threshold (USD), payment cap (number of times of total amount financed a student would pay), etc.)
Shifting to Action
Let’s not wait for ISAs to grow to size and scale (or fail to do so) and claim impact through the rear-view mirror. The industry has moved on from thinking that just because a product or service operates in the education space, it naturally has impact. It is time to walk the walk. The opportunity is ripe for ISAs to pioneer and leap over student loans as the financing tool that can generate the most positive, measurable social impact alongside a financial return (on a per dollar basis).
A commercial fusion energy source has never been closer to appearing on the electrical grid. Amazing, major breakthroughs in fusion science and technology are accelerating the potential for fusion energy to transform the global energy market and catalyze an equitable transition to a clean economy. Alongside overcoming significant remaining technical challenges, learning about the massive scale of investment, innovation, and excitement for fusion energy was inspiring. Here are a few of my takeaways from participating in Fusion Energy Week – U.S. Fusion Energy last week: How Fusion Works Fusion is not fission. Fusion binds. Fission divides. Fusion could provide abundant, safe, reliable, zero-carbon energy – 4x greater than fission. Fission faces many challenges, amongst them its destructive potential, global security proliferation risks and oversight, radiation, and nuclear waste. Yes, they share some science and technical (S&T) fundamentals and the word “nuclear”, yet the difference between fusion and fission is not just a linguistic nuance. It is not like thinking of soccer in the US and football non-US. It appears to me it is more like understanding the key differences and distinctions across cue sports: billiards, pool, and snooker. Fusion replicates a natural process that powers the sun and stars. For almost a century, scientists have been trying to replicate this on our planet earth. To do so, scientists bring together two atoms of Hydrogen (H), the lightest element of the periodic table, to create a heavier atom, essentially isotopes of H, deuterium and tritium. Various devices and methods including magnets and lasers are being developed for fusion. The leading concept is the Tokamak , which uses electromagnetic forces to confine very hot (+100MM degrees Celsius), charged, magnetic plasma in a vessel in the shape of a donut. This plasma produces heat which is then run through a turbine and a generator to convert the thermal energy into electricity. Should you want to dive deeper in the science behind fusion, suggest checking out the resources available at the US Fusion Energy website, the Office of Nuclear Energy at the Department of Energy, and Dr. Anne White's, Professor of Nuclear Science and Engineering at The Massachusetts Institute of Technology, explanation of fusion in 5 levels of difficulty published in Wired (magazine). Hats off to anyone who gets their kids to sing along this song – “not an illusion, if we get it just right”. Accelerating Systems Change Systems change in the financing and deploying of clean energy that address climate change and environmental, equitable justice, require a wide range of actors collaborating across their value chains and potentially beyond their interest. More often than not in non-traditional ways. I am excited and interested to see how the Inflation Reduction Act (IRA) federal and state, tax credits and electrification rebates, as well as the Greenhouse Gas Reduction Fund (GGRF) $27 billion, are executed to accelerate energy independence, resiliency, and contribute to a fossil fuel-free world. The fight against climate change demands it is done ensuring fairness and equity, building a diverse and inclusive workforce, and fostering environmental stewardship. However, the fact is that the marginal value one heat pump, one solar roof installation, one induction stove, one electric vehicle or powered two-wheeler, one Energy Savings Agreement, one battery recycling solution, is small relative to its contribution to helping transform the energy transition. It is also very hard to measure. We need to speed up the pace of change. We also need scale. Fusion promises it. Mobilize & Leverage Private Capital from Public Funding The fusion energy market is already seeing a significant amount of investment into private fusion energy companies. According to Global Corporate Venturing and Pitchbook there are now over 40 venture-backed companies developing fusion technology. According to reports from the Fusion Industry Association , over the last decade, more than $4.7 billion of private capital has entered the space. Already the three-year and five-year moving averages of private funding exceed the available public funding sources. Fig. 1 - Private and Public Funding vs. Year. Hsu, S. U.S. Fusion Energy Development via Public-Private Partnerships. J Fusion Energ 42, 12 (2023). https://doi.org/10.1007/s10894-023-00357-9
Life, like fixing your own bike, should encourage our tinkering. Tinker, and after trial and error, we may discover new things = new skills. Then, the ultimate test. Not written or proctored. Doing it. Living it. A maximum effort on climbs cat 2/3/4 and on the downhill at the U.S. Gran Fondo National Series ! Some of the best names in cycling support the U.S. Gran Fondo National Series , the largest and most competitive series of gran fondo cycling events in the United States, including amongst the series supporters and partners, Suarez (Title Sponsor), Wahoo Fitness (Results Partner), UNDRBDR (Official Anti-Chafe Product), Industry Nine (Road Wheels Partner), Shimano (Neutral Support Partner), USA Cycling (US Governing Body) , CTS (Coaching and Training Partner), Ride With GPS (Route Planning & Navigation Partner) and Hammer Nutrition (Sports Nutrition Partner). Make sure to mark your 2023 calendars! It is an amazing riding and racing, experience and organization! “DIY Overhaul A La Carte” Pre Gran Fondo Maryland 2022 Remove/Clean/Install EXISTING Cassette Remove/Clean/Install EXISTING Crankset Remove/Clean/Install EXISTING Pedals Remove/Clean/Install EXISTING Bottom Bracket Remove/Clean/Install EXISTING Headset & Fork Thoroughly Wash/Clean Bike Frame True Wheels (Lateral) Remove/Install NEW Front & Rear Derailleurs/Mechs Remove/Install NEW Chain Remove/Install NEW Handlebars Tape Remove/Install/Adjust/Index NEW Break and Derailleur Cables & Housing Remove/Install NEW Tires Photo Above - First Place Photo, Gran Fondo National Series, https://firstplacephoto.shotsee.com/gallery/granfondomaryland2022
Prowess Global Group S.A.S. informa a la opinión pública que hemos puesto fin a nuestra alianza con Torrot Electric Europa, S.A. Todas las compañías evolucionan y se transforman con el paso del tiempo, y nosotros no somos la excepción. Creemos que el liderazgo en el mundo de las motocicletas eléctricas off-road para niños y niñas comienza con la próxima generación, y por ello estamos contribuyendo a la iniciación y capacitación de más niños y niñas en el motociclismo. Bogotá, D.C. y Colombia, hoy cuentan con la flota más grande de motos eléctricas de Latinoamérica para la formación y entrenamiento integral de niñas y niños en el Motocross y Trial! Cuatro excelentes pistas y escuelas de formación de jóvenes pilotos en el motociclismo, ahora disponen de motocicletas eléctricas para sus clases, cursos y entrenamientos. ¡Contáctalos y visítalos! Agradecemos muy especialmente a nuestros clientes, aliados, concesionarios y equipos comerciales, pistas e instructores, y autoridades distritales, departamentales, y nacionales del motociclismo en Colombia, por haber confiado en nosotros. Con hechos, no palabras, estamos apoyando semilleros y construyendo el futuro de nuestro país , ofreciéndole a los más pequeños, las más amigables, divertidas y seguras experiencias en el mundo de las motos. ¡Mucha suerte y éxitos rodando nuevas aventuras! -------------------------------------------------------------------------------------------------------------- Prowess Global Group S.A.S. today announced that it has terminated its exclusive importer and distributor agreement with Torrot Electric Europa, S.A., to distribute Torrot KIDS electric motorcycles in Colombia. All companies evolve and transform over time, and we are no exception. We believe that leadership in the world of electric motorcycles for kids begins with the next generation, and that is why we are contributing to the initiation and training of more children into the world of motorcycling. Bogotá, D.C. and Colombia, have the largest fleet of electric motorcycles in Latin America designed for the introduction and development of young Motocross and Trial riders! Four excellent racetracks and motorcycling training schools now have world-class electric motorcycles available for their classes, courses, and training sessions. Make sure to contact and visit them! We are very thankful to our customers, partners, dealers and sales teams, racetracks and instructors, and Colombia´s national, regional, and local motorcycling authorities, for trusting us. Through actions, not words, we are building and supporting the future of our country , offering kids the best, safest and most fun initiation into the two-wheel electric vehicles space! Best of luck and many successful new riding adventures!
El pasado Domingo 24 de Abril de 2022, en el marco de prácticas clasificatorias de la I Válida del Campeonato Andino de Motocross, se realizó una Evaluación Oficial y Prueba Cronometrada de la motocicleta eléctrica Torrot Motocross Two con el gran Campeón Latinoamericano y Nacional 2021 categoría 50cc, Martín Ospina Cuello, joven piloto en formación en la Pista La Laguna . Nuestras felicitaciones a los organizadores, la Liga de Motociclismo de Bogotá, la Liga de Motociclismo de Cundinamarca y la Pista la Laguna. Gran organización y asistencia!
El pasado Sábado 26 de Marzo de 2022, en el marco de prácticas libres de la II Válida del Campeonato Nacional de Motocross Colombia 2022, se realizó una Evaluación Oficial y Prueba Cronometrada de la motocicleta eléctrica Torrot Motocross Two con el gran Campeón Latinoamericano y Nacional 2021 categoría 50cc, Martín Ospina Cuello, joven piloto en formación en la Pista La Laguna . Extendemos un especial y sincero agradecimiento a la Liga de Motociclismo de Bogotá, la Federacion Colombiana de Motociclismo , y la Comisión Nacional de Motocross, por su excelente tarea y gentil invitación para ser parte de esta gran fiesta del Motocross Colombiano. A nivel mundial y en Colombia, cada vez más jóvenes pilotos están considerando motocicletas eléctricas como una alternativa de vehículo para desarrollar su destreza y técnicas de conducción. Ha sido demostrado que las motos eléctricas son una excelente alternativa y complemento para contribuir y acelerar la iniciación y capacitación de más niños y niñas en el motociclismo deportivo, Motocross, Enduro, Trial y Supermotard, de una manera segura, divertida y pedagógica.
El pasado Sábado 5 de Febrero de 2022, 15 niñas y niños que nunca antes se habían montado en una moto, vivieron la mejor, más divertida y segura, y eléctrica iniciación en el mundo de las motos en Colombia! La gran experiencia " Mi Primera Vez en una Moto ”, permitió que niñ@s conocieran los fundamentos técnicos de dos modalidades del motociclismo: Motocross y Trial. La combinación y práctica de estas modalidades es la base sólida de los grandes pilotos. Con el equipo de protección puesto, que incluía casco, uniforme, guantes y botas, los niñ@s recibieron una excelente instrucción y clase personalizada. Conocieron sobre el funcionamiento y correcto uso de la motocicleta y vivieron sus primeras sensaciones en el mundo de las motos con Torrot KIDS, la #1 moto eléctrica a nivel mundial. Los jóvenes pilotos rodaron durante 40 minutos tanto en el óvalo de Motocross Enduro como en la pista de Trial. Mientras tanto, los padres y madres aprendieron sobre la teconología de punta Europea detrás de estos vehículos eléctricos, la cual está marcando la pauta para el sector de movilidad eléctrica. Tal es caso de especificaciones técnicas de las motocicletas, como la Aplicación Móvil APP de Control Parental, el Sistema de Gestión de Batería de Litio 48V Extraíble, y la Personalización de la potencia, velocidad, acelerador y freno regenerativo de la moto según las destrezas del niño o niña. Síguenos y conoce más en nuestras redes sociales, Instagram , Twitter y YouTube .
Empezamos el 2022 a lo grande con una invitación a vivir la gran experiencia “Mi Primera Vez en una Moto”. La cita es el próximo Sábado 5 de Febrero en la Pista OffRoad ubicada en el KM 25, Autopista Norte, La Vereda Yerbabuena, Chía, Cundinamarca (ver ubicación aquí ) Torrot KIDS es la moto líder a nivel mundial para los más pequeños. Su proyecto de ingeniería, diseño, alta calidad de componentes, tecnología de punta Europea y versatilidad de manejo, permite que niños rueden y desarrollen su pasión por las motos. Para uso recreativo, estilo de vida, o competencia del más alto nivel. En la Pista Offroad tendremos un excelente espacio, instrucción y clase personalizada, para que tus hijos o hijas puedan vivir su primera experiencia y sentir sus primeras sensaciones en el mundo de las motos de una manera divertida en un espacio seguro y profesional. En “Mi Primera Vez en una Moto” los niñ@s podrán experimentar dos modalidades del motociclismo: Motocross y Trial. Mientras los niños ruedan en el óvalo de Motocross Enduro o sobrepasan obstáculos en la pista de Trial, los padres y madres podrán conocer y apreciar el App de Control Parental, el Sistema de Gestión de Batería de Litio 48V Extraíble, y la Personalización de la potencia, velocidad, acelerador y freno regenerativo de la moto según las destrezas de sus hijo o hija. Reserva to cupo ahora para compartir de un tiempo de aprendizaje, nuevos amigos y mucha diversión al lado de las motocicletas eléctricas Torrot KIDS, la #1 moto eléctrica infantil. ¡Te esperamos! Descripción : Experiencia : “Mi Primera Vez en una Moto” Fecha : Sábado 5 de Febrero 2022 Lugar : Pista Offroad (ver ubicación aquí ) Hora : 10:00 AM – 2:00 PM Reservaciones : Cupos cada 40 mins. Cambio de moto (Motocross Two y Trial Two) a la mitad del turno. Precio por Niñ@ : $50.000 COP. Incluye instructor y clase personalizada, uso exclusivo de motos eléctricas Torrot KIDS Motocross Two y Trial Two, equipo de protección y derecho de pista. Requisitos : Niñas y niños entre 6 y 11 años. Básico saber montar en bicicleta y tener sentido de equilibrio. Asistir con documento de identidad original. Diligenciar documento de exoneración de responsabilidad (en el día). Favor presentarse 25 minutos antes de la hora de la reserva.
El pasado 16 y 17 de Octubre de 2021, se realizó la 2nd VALIDA DISTRITAL DE MOTOCROSS en la ciudad de Bogotá, D.C., Colombia organizada por la Liga de Motociclismo de Bogotá y la Federación Colombiana de Motociclismo . Muchas gracias a los organizadores por invitarnos a vincularnos y patrocinar este evento. Agradecemos y valoramos la gran dedicación y trabajo del equipo organizador. Estamos comprometidos a apoyar y contribuir a la capacitación de los más pequeños y darles mayor visibilidad a los procesos de semilleros del país. Desde los más pequeños que aprenden por primera vez a conducir una moto, pasando por niños y niñas que se divierten con la moto de manera recreativa en las fincas, casas de campo, clubes campestres, trochas, etc., hasta los jóvenes pilotos que desarrollan y afinan sus destrezas y técnica de conducción para competencias a nivel distrital, nacional e internacional, Torrot KIDS es la moto líder a nivel mundial para niños y niñas de 3 a 12 años. Cada día, más y más niñas y niños están apreciando y gozando de la calidad y las ventajas de las motocicletas eléctricas Torrot KIDS. Desde sus componentes, la aplicación tecnológica móvil, hasta las sensaciones y la versatilidad que las motos ofrecen a los pilotos jóvenes en el desarrollo de sus destrezas y técnicas de conducción y manejo. ¡Muchas felicitaciones a los más de 40 participantes y los jóvenes pilotos campeones en las categorías Pitbike Infantil, 50cc Mini, 50cc, 65cc Novatos, 65cc y 85cc! Y grandes noticias nos esperan… muy pronto tendremos a Torrot KIDS Motocross ONE y Torrot KIDS Motocross TWO participando y compitiendo! Síguenos y no te pierdas estas noticias.
El pasado 9 y 10 de Octubre, se realizó la 5ta VALIDA NACIONAL DEL CAMPEONATO DE MOTOCROSS COLOMBIA en la ciudad de Manizales, Caldas, organizada por la Liga Caldense de Motociclismo y la Federación Colombiana de Motociclismo . Torrot Electric Europa y Prowess Global Group, representante exclusivo de Torrot KIDS para Colombia, agradecemos muy especialmente a los organizadores la oportunidad de poder vincularnos y patrocinar la realización de esta válida. Casi 50 niños y niñas orgullosamente representaron a la Liga Antioqueña de Motociclismo , Liga Valle de Motociclismo , Liga de Motociclismo de Bogotá , Liga de Motociclismo del Tolima , Liga de Motociclismo de César , Liga de Motociclismo de Cundinamarca , Liga de Motociclismo del Huila , Liga de Motociclismo de Nariño y Liga Santandereana de Motociclismo . Nuestros sinceros agradecimientos a todos los niños y niñas que disfrutaron de las pruebas de manejo. Desde los chicos y chicas que nunca se habían montado en una moto, hasta los experimentados jóvenes pilotos actualmente triunfando a nivel Nacional y Latinoamericano, todos se gozaron las motocicletas eléctricas Torrot KIDS con excelentes comentarios. Su versatilidad de manejo, mayor torque y potencia (además programable), menos peso (hasta 50% más ligeras), y tecnología de punta Europea, entre otros factores, hacen que Torrot KIDS sea la moto eléctrica líder a nivel mundial para los pilotos entre 3 y 12 años. Hoy, quisiéramos rendirles un pequeño homenaje a todos ellos. Muchas gracias por confiar en nosotros. Con ustedes, estamos convencidos de que el futuro del motocross Colombiano está en excelentes manos. ¡Muchos éxitos y siempre adelante! Síguenos y conoce más en Instagram @prowessglobalgroup y Twitter @Prowess_Global.
¿Cuáles son las ventajas de las motocicletas eléctricas sobre las motos de gasolina para niños y niñas?