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Noe De Jesus
Noe started his project of setting up his own store three months ago after having worked in Panama for a time for an electric power company installing public electrical wiring. However, at the age of 61 he feels that this type of activity is a bit risky for him and in addition it worsens the pain he has in one of his joints. Because of this, he decided to follow his dream of having a store of his own where he grew up so that he can be in permanent contact with people from his neighborhood.

Now, Noe is at the public’s service every day and always strives to provide them with better service every time. Because of this, he’s looking for a loan that will allow him to do some remodeling in his store to make it more attractive and pleasant to his customers and to buy stock merchandise to meet customer needs that he hasn’t been able to for lack of stock.

Noe hopes that with this his business will increase in sales and he will be able to continue to earn income for his home where he lives with his five children since the mother of his children abandoned him some time ago. In addition, he dreams with the business providing employment opportunities for other people who very much need a salary to cover their expenses.
View original language description ↓
Noe emprendió el proyecto de montar su propia tienda desde hace 3 meses, después de haber trabajado en Panamá por un tiempo para una compañía del sector eléctrico tendiendo líneas de alumbrado público; sin embargo a sus 61 años considera que esta actividad es muy riesgosa para el, además que empeora el dolor que ya tiene en una de sus articulaciones. Es por esta razón que decidió seguir su sueño de tener una tienda propia en el lugar donde creció y seguir su sueño de tener una tienda propia en el lugar donde creció y estar en permanente contacto con las personas de su barrio. Noe, ahora esta al servicio de sus clientes todos los días, y cada vez les quiere ofrecer una mejor atención. Es por esto que busca un préstamo que le brinde la oportunidad de acceder a realizar mejoras locativas a su local de manera que sea más atractivo y agradable para sus clientes, y comprar surtido para satisfacer las necesidades de sus clientes que no ha podido satisfacer por la falta de surtido.

Noe espera que con esto su negocio aumente en ventas y pueda seguir consiguiendo los ingresos para su hogar donde convive con sus 5 hijos, ya que la madre de sus hijos lo abandonó hace un tiempo. Además, sueña con que su negocio le brinde la oportunidad de generar empleo para personas bien necesitadas que requieran de un salario para sostener sus gastos.

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
  • 138
    View loans »
    Colombia Loans Fundraising
  • $12,792,775
    Funds lent in using Kiva
  • 1,814.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Noe De Jesus to buy stock merchandise and to do some remodeling in his store.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 30, 2012
Listed
Feb 6, 2012
Currency Exchange Loss:
Covered
Ended:
Oct 17, 2012