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Hugo De Jesus
Hugo has been a hard-working person all of his life. Also, he is well-known for always wanting to improve his family’s well-being. Hugo, age 67, is married and has five children; he wants to give them everything they need.

Hugo has worked in the fast food business for over 20 years. He sells various foods such as bananas, potatoes, and “chicharrones” (pork rinds), among others.

The fast food cart that Hugo now works with is in deplorable shape. His customers are frequently reluctant to buy his products because of the condition of his food cart. That is why Hugo is hoping to be able to buy a new fast food cart. This would allow him to work more easily, and it would not drive the customers away from his business.

However, Hugo does not now have enough capital to buy it. That is why he hopes that a loan will give him the opportunity to buy a new food cart. This will allow him to work with his fast food in a more sanitary manner. Also, his customers will not go away because of the deterioration of his work tool.

Hugo hopes that with the change of his food cart his sales will increase considerably. This way he will be able to give his wife and their five children a better quality of life. Also, he dreams of his children being able to access a university education and of them having financial stability in the future. That is why he works so hard in order to leave them with a good source of income.
View original language description ↓
Hugo ha sido una persona muy trabajadora durante toda su vida, además de que es muy reconocido por siempre querer mejorar el bienestar de su familia.
Hugo, con 67 años de edad, se encuentra casado y es padre de 5 hijos, a los cuales les quiere brindar todo lo que necesitan.
Hugo se ha desempeñado por más de 20 años en el negocio de las comidas rápidas, y ha variado sus ventas desde plátanos, papas, chicharrones, entre otros.
Hugo, actualmente trabaja en su carro de comidas rápidas, el cual ya se encuentra en un estado deplorable, por lo que sus clientes a menudo ya son reacios a comprar sus productos por la condición de su carro de comidas. Es por esto que Hugo aspira a poder comprar un nuevo carro de comidas rápidas, el cual le permita desempeñarse con mayor facilidad y no aleje los clientes de su negocio, sin embargo, Hugo no cuenta en la actualidad con el capital suficiente para comprarlo, por lo que aspira a que un préstamo le brinde la posibilidad de comprar un nuevo carro de comidas, que le permita trabajar con mayor sanidad sus comidas rápidas, y sus clientes no se alejen por el deterioro de su herramienta de trabajo.
Hugo espera que con el cambio de su carro de comidas sus ventas aumenten considerablemente, y de esta manera pueda brindarles una mejor calidad de vida a su esposa y sus 5 hijos. Además, sueña con que sus hijos puedan acceder a una educación universitaria y tengan una estabilidad económica en un futuro, por lo que trabaja fuertemente para dejarles una buena fuente de ingreos.

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
  • 466
    View loans »
    Colombia Loans Fundraising
  • $14,958,950
    Funds lent in using Kiva
  • 1,824.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $900 helped Hugo De Jesus to buy a new fast food cart because the one he has now is in bad shape, and customers are leaving.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 20, 2012
Listed
Feb 2, 2012
Currency Exchange Loss:
Covered
Ended:
Oct 20, 2013