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Octavio De Jesus
From a very young age, Octavio has worked as a shoemaker. His father worked in a cobbler shop and taught Octavio the craft. After learning from his father, Octavio decided to open his own shop, and he now has over 25 years of experience working as a cobbler. Octavio works very hard to provide for his wife and four children, as they are his main motivation.

In his workshop, he is known for offering his clients high quality products and good prices. In fact, he does such good work, that demand for his services exceeds his ability to finish orders, so Octavio works extremely hard in order to increase his productivity. Recently, one of Octavio’s machines has broken, and he is requesting this loan in order to purchase the parts necessary to repair the machine. He also plans to utilize support from the loan to purchase raw materials for making shoes.

Octavio hopes to continue growing and developing his business so that he can offer employment to others. He also hopes that, as a result of his hard work, his family can continue to enjoy a good quality of life.
View original language description ↓
Desde muy joven Octavio aprendió la actividad de la fabricación de calzado, gracias a que su padre trabajaba en una empresa de calzado y se la enseñó desde temprana edad. Al aprender la actividad decidió montar su propio taller de fabricación de calzado el cual tiene más de 25 años de experiencia, y con el cual ha sacado su familia adelante. Octavio se encuentra casado y tiene 4 hijos de quienes manifiesta son su mayor motivación para trabajar fuertemente en su negocio. En su taller se ha caracterizado por ofrecer a sus clientes una gran calidad en sus productos y ofrecer muy buenos precios, por lo que ha tenido la oportunidad de captar un gran número de clientes para su negocio. En la actualidad, su negocio tiene más demanda por parte de sus clientes que la capacidad con la que cuenta para responder esta, por lo que Octavio está trabajando fuertemente para poder nivelar su capacidad de producción. Adicional a esto, a Octavio se le ha averiado una de sus máquinas, por lo que busca que un préstamo le brinde la oportunidad de acceder a la reparación de una de sus máquinas y la compra de materias primas para la fabricación del calzado.

Octavio espera seguir creciendo en su negocio y seguir teniendo un buen taller de fabricación de zapatos. Además, Octavio espera que de esta manera su familia siga teniendo una buena calidad de vida y sueña con generar varios empleos en su taller.

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
  • 500
    View loans »
    Colombia Loans Fundraising
  • $14,954,225
    Funds lent in using Kiva
  • 1,790.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,025 helped Octavio De Jesus to repair one of his machines and purchase raw materials for making shoes.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 15, 2012
Listed
May 1, 2012
Currency Exchange Loss:
Covered
Ended:
Jul 19, 2013