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Focion Tulio
Focion has had to overcome much adversity in his life, but, as he is a hardworking and determined man, he has been able to face those challenges. Focion is a single father, and has a son who is 10 years old. His wife left them some time ago, and so Focion provides the only source of income for the family. At one time, Focion was out of work and was urgently seeking employment to provide for his son, so he worked temporarily as an employee for a couple of his friends who had businesses. His friends taught him their trades, and Focion learned how to run a business, which eventually led him to open his own business and to generate more income.

Since that time, Focion has made a living buying and selling vegetables. He buys produce from various farmers and then sells the products in the local market. Thanks to this work, he is able to make a living and provide for his son and home. In order to take advantage of seasonally low prices, Focion is requesting a loan that will allow him to purchase vegetables in bulk and offer them to his clients.

With these special wholesale prices, Focion will be able to garner a better margin from his resale of the products. The support from the loan will also allow him to continue making a decent wage and offer his son a better quality of life.
View original language description ↓
Focion es una persona que ha tenido que atravesar por muchas adversidades en su vida, sin embargo, sus ganas de salir adelante le ha permitido superar las dificultades y seguir progresando en su vida. Focion es un padre soltero de su hijo de 10 años, pues su madre los abandonó hace un tiempo y debido a esto se vio en la obligación de garantizar el sustento necesario para su hogar. En un momento se quedó desempleado y debido a la urgencia de generar ingresos para su hogar buscó a unos amigos suyos que tenían sus propios negocios. Uno de ellos se dedicaba a la compra y venta de cosechas de verduras, y le enseñó la actividad a Focion para que se dedicara a esto. Focion trabajó para el como empleado durante un tiempo mientras aprendía en su totalidad como se manejaba el negocio, y una vez aprendida la actividad montó su propio negocio para generar sus propios ingresos. Desde entonces, Focion viene trabajando en su negocio de compra y venta de verduras en el cual compra las cosechas a los campesinos y las vende en la plaza de mercado de su municipio, y gracias a esta actividad genera los ingresos necesarios para su hogar. Con el ánimo de aprovechar algunos buenos precios, Focion busca que un préstamo le brinde la oportunidad de acceder a la compra de verduras al por mayor para ofrecerlas a sus clientes y así aprovechar los buenos precios de la temporada.

De esta manera, podrá acceder a precios bajos que se están ofreciendo en el momento y podrá tener un mayor margen de ganancia. Además, podrá seguir teniendo los ingresos que requiere para su hogar y su hijo tendrá acceso a una buena calidad de vida.

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
  • 268
    View loans »
    Colombia Loans Fundraising
  • $13,343,550
    Funds lent in using Kiva
  • 1,790.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Focion Tulio to purchase vegetables in bulk for resale, and to take advantage of seasonally low prices.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 16, 2012
Listed
May 1, 2012
Currency Exchange Loss:
Covered
Ended:
May 17, 2013