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Antonio Jose
Antonio has a workshop where he makes and repairs shoes. This business generates an income for his family; he lives with his wife and their four-year-old. Antonio used to work as a day labourer, but he got tired of the work and the bad pay, so he opened his workshop. Thanks to the good results he has obtained, Antonio has been able to capture a large customer base which has provided him with very good sales. His business has developed rapidly. Because his production capacity is currently very low compared to the market demand for his products, Antonio needs a loan in order to buy an industrial machine for making shoes; this will increase his production capacity and allow him to fill his customers' orders.
This will allow Antonio to respond to all of his customers' orders, and he will therefore have more income for his household. Furthermore, Antonio hopes that this additional income will allow his family to enjoy a better quality of life, and allow his four-year-old to access a higher quality education.
View original language description ↓
Antonio tiene un taller de fabricación y reparación de calzado con el cual genera los ingresos para su hogar donde convive con su esposa y su hijo de 4 años. Antonio anteriormente trabajaba como jornalero, pero se cansó de este trabajo y la mala remuneración que tenía y desde allí montó su taller de fabricación y reparación de calzado. Gracias a los buenos productos que tiene, Antonio ha logrado captar un gran número de clientes, lo que le ha permitido tener muy buenas ventas y progresar rápidamente con su taller. Debido a que actualmente tiene muy baja capacidad de producción comparada con la demanda que hay en el mercado por sus productos, Antonio busca que un préstamo le brinde la oportunidad de acceder a la compra de una máquina industrial para la fabricación del calzado y así aumentar su capacidad de producción y poder responder a los pedidos de sus clientes.

Antonio de esta manera podrá responder a todos los pedidos de sus clientes y así tendrá unos mejores ingresos para su hogar. Además, Antonio espera que con mayores ingresos su familia pueda gozar de una mejor calidad de vida y su hijo de 4 años el acceso a una educación de mejor calidad.

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
  • 525
    View loans »
    Colombia Loans Fundraising
  • $14,638,350
    Funds lent in using Kiva
  • 1,790.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,125 helped Antonio Jose to buy an industrial machine for making shoes in order to increase production capacity to respond to orders.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 21, 2012
Listed
May 1, 2012
Currency Exchange Loss:
Covered
Ended:
Mar 15, 2013