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Luis Javier
Luis Javier is 51 years old and the father of a 17 year old son. He has been living in the city for 30 years after having spent his childhood in the town of Abejorral which is located south of Antioquia. After observing the familiar work being done, Luis Javier started selling fast food from a cart in front of an educational institution in Medellín.
Recently, the city outfitted a kiosk for his business, which Luis Javier was able to expand. Currently, he is generating 8 jobs for his family members in two shifts. He works from 6:00 am until 11:00 pm, Monday through Friday and Saturdays until midday. Thanks to this business, he has been able to build his own home and get his family ahead in life.
Luis Javier needs to make improvements to his kiosk such as installing a gas network and making improvements to the floor and walls. In addition, he needs to purchase inventory such as soft drinks, bread, and sauces. With this loan, he will be able to increase his income and the quality of life for his family. Luis Javier’s dream is to have his own restaurant and, in this way, generate a greater number of jobs for his relatives.
View original language description ↓
El señor Luis Javier a sus 51 años de edad es padre de un hijo de 17 años. Desde hace 30 años vive en la ciudad, luego de haber pasado su niñez en el municipio de Abejorral localizado al sur de Antioquia. Luego de observar el trabajo que conocidos realizaban, el señor Luis Javier comenzó con un carro de venta de comidas rápidas frente a una institución educativa de la ciudad de Medellín. Hasta hace poco, el municipio le acondicionó un kiosco para que realizará su trabajo, con lo cual el señor Luis Javier se pudo ampliar. Actualmente, el señor Luis Javier esta generando 8 empleos a sus familiares en dos turnos. El señor Luis Javier labora desde las 6:00 a.m. hasta las 11:00 p.m. de lunes a viernes y los sábados hasta el medio día. Gracias a este negocio, el señor Luis pudo hacer su propia casa y ha sacado su familia adelante. El señor Luis Javier necesita realizar mejoras locativas en su negocio tales como instalar la red de gas y mejorar el piso y las paredes. Además, requiere de la compra de surtido tal como gaseosas, panes y salsas. Con lo anterior podrán mejorar sus ingresos y así la calidad de vida de su familia. El sueño D. señor Luis Javier es tener su propio restaurante y en este generar un mayor numero de empleos directos a sus familiares.

Additional Information

Important Information

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.

About Colombia

  • $11,100
    Average annual income
  • 488
    View loans »
    Colombia Loans Fundraising
  • $15,255,525
    Funds lent in using Kiva
  • 1,941.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,050 helped Luis Javier to make improvements to his kiosk and purchase inventory.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 23, 2011
Listed
Nov 28, 2011
Currency Exchange Loss:
Covered
Ended:
Jun 15, 2012