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Henry
Henry is person known by his family and neighbors as being very hardworking and devoted to his family’s and other people’s wellbeing. He’s 40 years old, married and the father of two children who are 2 and 9 years old and who are his motivation to work hard every day.

Henry used to work as an employee in a firm but one day made the decision to go into business for himself because the job didn’t pay very well and he didn’t earn enough income to support his family. Henry started his shoe selling business with very little capital but thanks to the loans he’s been granted he’s been able to improve his business stocking it with a wider variety of products and attracting a larger clientele. Since then, Henry has been able to improve his firm considerably and he currently has more customers than he can tend to.

Because of this, henry wants to buy a still wider selection of shoes but lacks sufficient capital to buy this merchandise so he’s placed his hope on a loan that will allow him to buy merchandise to stock his shoe store and have larger amounts to offer his customers.

Henry hopes that his income will increase considerably this way because he will be able to take care of more customers than he’s been able to to date. Henry’s dream is that his business generates great income so that he can provide a better education and economic stability in future.
View original language description ↓
Henry es una persona que es conocida por su familia y sus vecinos por ser muy trabajador y dedicado al bienestar de su familia y las demás personas.
Henry, con 40 años de edad, se encuentra casado y es padre de 2 hijos de 2 y 9 años, los cuales son la motivación para trabajar arduamente todos los días.
Henry anteriormente laboraba vinculado a una compañía, pero un día tomó la decisión de independizarse debido a que el trabajo era muy mal pago y no le alcanzaba para generar los ingresos suficientes para el sostenimiento de su familia.
Henry inició su negocio de venta de calzado con un capital muy bajo, pero gracias a los créditos que le han otorgado ha podido ir mejorando su negocio, surtiéndolo con mayor variedad de productos y atrayendo así una mayor clientela. Henry desde entonces ha podido mejorar su empresa considerablemente y actualmente tiene más clientes que los que puede atender.
Es por esto que Henry en el momento busca comprar más surtido de calzado, pero no cuenta con el capital suficiente para realizar la compra de esta mercancía, por lo que tiene la esperanza puesta en que un préstamo le brinde la posibilidad de acceder a la compra de mercancía de calzado para surtir su almacén y tener una mayor cantidad para ofrecer a sus clientes.
Henry espera que de esta manera sus ingresos aumenten considerablemente, pues podrá atender a más clientes que antes no podía atender.
Henry tiene el sueño de que su negocio le genere grandes ingresos de modo que pueda brindarles en un futuro una mejor educación, y una estabilidad económica.

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
  • 176
    View loans »
    Colombia Loans Fundraising
  • $13,090,925
    Funds lent in using Kiva
  • 1,812.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $850 helped Henry to buy shoes.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 20, 2012
Listed
Feb 2, 2012
Currency Exchange Loss:
Covered
Ended:
Feb 15, 2013