Walter


Status: Paid Back

$925.00   Loan Request
$925.00   Paid Back

About the Entrepreneur

(For privacy reasons, the Field Partner has requested that last name be undisclosed)
Name: Walter
Location: Juliaca, Peru
Activity: Spare Parts

About the Loan

Loan Amount: $925.00
Loan Use: Increase his parts inventory
Repayment Term: 8 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Feb 20, 2009
Date Disbursed: Feb 11, 2009
Date Funded:Feb 20, 2009
Loan Ended:Sep 15, 2009

About the Country

Country:Peru
Avg Annual Income:$6,715.00
Currency:Peru Nuevos Soles (PEN)
Exchange Rate:3.2650 PEN = 1 USD



Walter is a 21 year old young man who lives with his widowed father in his father’s home. Even though he is very young he wants to help with the household expenses, so he works a lot and also studies. When Walter turned 18 he realized that they didn’t have enough to pay their expenses so he decided to get a job. Without abandoning his studies he decided to sell second-hand automobile parts. He has had his business for 3 years now and he knows with time his work will grow. He wants to turn his home into a car repair shop, which he can manage and it will generate the necessary income so he can finish his studies. Walter likes to work with parts, but it is difficult to obtain the parts and he always is out and about looking for parts to purchase. This is his second loan with MFP, he was very punctual with his first loan and he hopes to be able to be so with this loan. He is the only man in the Community Bank, so he is beloved by the rest of the members. Walter decided to invest the 3000 nuevos soles loan in improving his business and buying more automobile parts in order to satisfy the large number of customers that he has.

Translated from Spanish by Cindy Kendall, Kiva Volunteer


Walter es un joven de 21 años, vive con su padre, el cual es viudo, en su casa propia y aunque es muy joven desea ayudar con los gastos del hogar, para eso trabaja mucho y estudia a la vez. Cuando Walter cumplió la mayoría de edad (18), se dio cuenta de que el dinero en su casa no alcanzaba, por eso decidió ponerse a trabajar en algo, sin descuidar sus estudios decidió incursionar en la venta de repuestos de automóviles de segunda mano, actividad en la cual sigue hasta ahora, tiene 3 años de experiencia y sabe que con el tiempo su trabajo tiene que crecer, quiere convertir su casa en un centro de reparación de autos, el cual pueda administrar y le genere los ingresos económicos necesarios para concluir sus estudios. A Walter le gusta trabajar con repuestos, pero le es muy difícil conseguirlos y siempre sale por la calle en busca de repuesto que comprar. Es el segundo préstamo que tiene con MFP, en su primer pago fue muy puntual y espera poder serlo en este, es el único varón de su banco comunal, por lo cual es muy querido por el resto de las socias. Walter ha decidido invertir los tres mil nuevos soles de préstamo, en mejorar su negocio y comprar más repuestos para autos y así satisfacer a la gran cantidad de clientes que tiene.

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Journal entries for Walter


Loan has been disbursed
 
Entrepreneur: Walter
Location: Juliaca, Peru

Thank you for your loan. It has been disbursed to Walter by Microfinanzas PRISMA in Peru. We are excited to watch this business grow. Over the 5 months of this loan, Microfinanzas PRISMA will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Juliaca, Peru
Feb 21, 2009
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Kiva Help Repayment Schedule for Walter

  Expected Repayments Actual Repayments Comments
May 2009 $154.17 $154.17 Repayment Received
June 2009 $154.17 $154.16 Repayment Received
July 2009 $154.17 $154.17 Repayment Received
August 2009 $154.17 $154.17 Repayment Received
September 2009 $154.17 $154.18 Repayment Received
October 2009 $154.15 $154.15 Repayment Received