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Jose Octavio
José Octavio is someone who has suffered all kinds of adversity in his life. Some time ago, the mother of his children abandoned him and left him in charge of 2 children, 3 and 10 years old.
José Octavio has wanted his children to grow up in a good home and not have to find themselves in the adverse situations that he has. For 15 years, José Octavio has sold consumer goods like snacks, fruit and pop, among other things, from a cart outside his municipality. His sales have always been good, but he’s had to endure some insecure times. A short while ago, his merchandise and money were stolen, leaving him on the edge of bankruptcy and his sons had to endure being in a situation where even their basic needs couldn’t be met. With the intention of recuperating a large part of his merchandise, José Octavio needs to purchase consumer goods. Unfortunately, he doesn’t have enough money to do so, that’s why he’s hoping for a loan that can permit him to purchase consumer goods, such as snacks, fruit and pop, among other things, and that way recuperate his inventory to be able to offer products to his clients. José Octavio
Wants his business to recover and to generate sufficient income to attend to the basic needs of his family, so his children can enjoy a better quality of life. José Octavio’s dream is that his children have access to quality education and in the future are able to get a university education that will prepare them to find a good job that pays well.
View original language description ↓
José Octavio es una persona que ha sufrido toda clase de adversidades en su vida. Hace un tiempo la madre de sus hijos lo abandonó y el quedó a cargo de sus 2 hijos de 3 y 10 años.
José Octavio siempre ha querido que sus hijos crezcan en un buen hogar y nunca tenga que verse en situaciones adversas como le ha tocado a el.
José Octavio desde hace 15 años se dedica a la venta de productos de consumo como son snacks, frutas, gaseosas, entre otros en una carretera a las afueras de su municipio, donde sus ventas siempre han sido buenas pero ha tenido que padecer los problemas de la inseguridad, pues hace poco le hicieron un robo de mercancía y dinero que lo dejó al borde de la quiebra y sus hijos tuvieron que ver como hasta sus necesidades básicas se vieron en problemas para suplirse.
José Octavio con el ánimo de recuperar gran parte de su mercancía, requiere comprar productos de consumo, sin embargo, actualmente no cuenta con el capital suficiente para realizar estas compras, por lo que tiene la esperanza en que un préstamo le permitirá acceder a la compra de productos de consumo como snacks, frutas, gaseosas, entre otros y volver así a recuperar su surtido y tener productos que ofrecer a sus clientes para la venta.
José Octavio aspira a que su negocio se recupere y le vuelva a generar ingresos suficientes como para atender las necesidades básicas en su familia, y de este modo sus hijos podrán gozar de una mejor calidad de vida.
José Octavio tiene el gran sueño de que sus hijos tengan la posibilidad de acceder a una educación de calidad, y en un futuro ingresar a un estudio universitario que les permita prepararse para encontrar un buen empleo y 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
  • 266
    View loans »
    Colombia Loans Fundraising
  • $13,496,050
    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 Octavio buy consumer goods like snacks, fruit and pop, so he can recuperate his business after being robbed.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 20, 2012
Listed
Feb 1, 2012
Currency Exchange Loss:
Covered
Ended:
Jan 15, 2013