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Alvaro Elias
Alvaro is known by his relatives and the people in his area as a very hard-working person who is very dedicated to his son. He is the single father of a 14-year-old boy for whom he struggles and works very hard.
Alvaro works selling all sorts of merchandise, such as clothes, shoes, bed sheets and blankets, among others, and thanks to this work, he gets enough money to support his son.
Alvaro buys the merchandise in different places and sells it in other districts, so that he is always travelling.
He is very well known among his clients for selling very good quality products and always offering the best kind of service. It is for this reason that he has regular customers. However, he also tries to get new ones very often in order to increase his income.
Alvaro’s customers have currently placed many orders and he needs to buy the merchandise to be able to fulfill them. He does not have the necessary capital to buy the goods, however, so he hopes that a loan will make it possible to buy merchandise such as clothes, shoes, bed sheets and blankets, among other products, and so fulfill his customers’ orders and continue to obtain an income that will allow him to cover his home expenses.
Alvaro dreams that his son may be able to access a good education and even that he will be able to pay a university education for him so that he can get a well-paid job.
View original language description ↓
Alvaro es una persona que es reconocida entre sus familiares y las personas de su sector por ser muy trabajador y muy dedicado a su hijo. Alvaro es un padre soltero que tiene a cargo su hijo de 14 años, por el que siempre lucha y trabaja fuertemente.
Alvaro se dedica a la comercialización de todo tipo de mercancía como es ropa, zapatos, tendidos de cama, cobija, entre otros, y gracias a esto genera los ingresos necesarios para el sostenimiento de su hijo.
Alvaro compra la mercancía en diferentes partes, y las vende en otros municipios, por lo que constantemente esta viajando.
Alvaro es muy conocido entre sus clientes por vender productos de muy buena calidad, y por ofrecer un servicio que siempre es el mejor. Es por esto que Alvaro tiene una clientela fija, y muy a menudo intenta conquistar clientes nuevos, para poder así aumentar sus ingresos.
Actualmente Alvaro tiene grandes pedidos de sus clientes, por lo que debe comprar la mercancía para cumplir con estos pedidos, sin embargo, Alvaro no cuenta con el capital necesario para la compra de esta mercancía, por lo que tiene la esperanza de que un crédito le brinde la posibilidad de acceder a la compra de mercancía como ropa, zapatos, tendidos de cama, cobijas, entre otros productos, para poder así cumplir con los pedidos de sus clientes y seguir obteniendo ingresos para poder sostener los gastos del hogar.
Alvaro tiene el gran sueño de que su hijo pueda acceder a una buena educación, y en un futuro poderle brindar la oportunidad de acceder a una educación universitaria donde se prepare y pueda conseguir un empleo bien remunerado.

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

  • $6,070
    Average annual income
  • 276
    View loans »
    Colombia Loans Fundraising
  • $13,826,450
    Funds lent in using Kiva
  • 1,824.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,100 helped Alvaro Elias to buy merchandise such as clothes, shoes, blankets and sheets, among others.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 19, 2012
Listed
Feb 1, 2012
Currency Exchange Loss:
Covered
Ended:
May 17, 2013