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Jose Arcadio
José Arcadio is known as someone who has dedicated his life to his home and children. He also has a very good reputation for being a hard worker. He was abandoned by the mother of his children and so cares for the three who are his motivation for working so hard every day in his workshop.

For 39 years he has been making shoes and using the income to cover household expenses. José Arcadio's shop has a very high sales volume because of the quality of his products and good customer service. Since sales volume has increased he has large orders to fill and needs to buy materials and supplies to make shoes, such as rubber and glue, among other things. But José Arcadio does not have enough capital to take on this purchase and he is hoping a loan will help him buy everything he needs such as rubber, glue, leather, etc., so he can fill customer orders without this affecting his monthly income.

His dream is for his children to receive a good education so they can go on to get a university degree. He also wants to expand his workshop and turn it into a stable business that generates a good income for his children's economic stability in the future.
View original language description ↓
José Arcadio se ha caracterizado por ser una persona dedicada a su hogar y sus hijos durante toda su vida, además de que tiene muy buena reputación por ser una persona muy trabajadora.
José Arcadio fue abandonado por la madre de sus hijos, por lo que el se encuentra a cargo de sus 3 hijos y son ellos los que lo motivan para que todos los días trabaje fuertemente en su taller.
José Arcadio desde hace 39 años se dedica a la fabricación de calzado, y gracias a esto genera los ingresos necesarios para sostener los gastos de su hogar. José Arcadio tiene un taller de fabricación de calzado en el que tiene muy buenas ventas, gran parte de esto debido a la buena calidad de sus productos y a su buena atención a los clientes.
José Arcadio ha visto como se han aumentado sus ventas, por lo que tiene grandes pedidos de sus clientes por entregar. Debido a esto requiere comprar materiales e insumos para la fabricación del calzado, como lo es el caucho, el pegante, entre otros; sin embargo, José Arcadio no cuenta con el capital suficiente para poder afrontar estas compras, por lo que tiene la esperanza de que un préstamo le permita acceder a la compra de los materiales necesarios para la fabricación del calzado como los son el caucho, el pegante, el cuero, entre otros, y poder así cumplirle a sus clientes sin tener que ver afectado sus ingresos mensuales.
José Arcadio tiene el gran sueño de que sus hijos puedan acceder a una educación de calidad, y que en un futuro tengan la posibilidad de estudiar una carrera universitaria. Además, José Arcadio sueña con que su taller pueda crecer y se consolide, de modo que genere grandes ingresos de los cuales sus hijos puedan obtener una estabilidad económica en un futuro.

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
  • 163
    View loans »
    Colombia Loans Fundraising
  • $12,834,025
    Funds lent in using Kiva
  • 1,824.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Jose Arcadio to buy materials and supplies to make shoes, such as rubber, leather, glue and other items.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 19, 2012
Listed
Feb 2, 2012
Currency Exchange Loss:
Covered
Ended:
Feb 15, 2013