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Ruben Darío
Ruben has worked in the binding business for a long time. This allows him to have very good experience in the area, and that way he stands out to his customers. He has been doing this for 12 years. Before that he worked for a long time at a company where he did not earn a good salary. He decided to become independent and start up his own shop at his house. This way he was able to make financial progress.

Because he did not have a lot of capital, his business was established with a lot of production limitations. Therefore, his orders were not very big in the beginning. Nevertheless, he got the business ahead with great effort. This way it has been growing little by little. He currently has two large orders from his customers. They are so big that he is unable to respond to the customer demand due to his production capacity.

That is why he is looking for a loan, which will allow him to buy two presses and increase his production capacity. Then he will be able to respond to his customers’ orders. This way he will grow more and have better sales. His family will have improved income and a better quality of life.

His financial needs are a little high. His two daughters, age 16 and 18, are in school, and the university is very expensive. However, thanks to his business, his is able to give them an education. His dream is to see his two daughters become professionals, have a better quality of life in their home, and financial opportunities to progress.
View original language description ↓
Ruben se desempeña en la actividad de la encuadernación desde hace un largo tiempo ya, lo que le permite tener muy buena experiencia en el sector y así diferenciarse ante sus clientes. Desde hace 12 años, luego de trabajar durante un largo tiempo en una empresa donde no ganaba un buen salario, decidió independizarse y montar su propio taller desde su casa y así poder progresar económicamente. Debido a que no contaba con mucho capital su negocio fue montado con muchas limitaciones de producción, por lo que en un principio sus pedidos no eran muy grandes, sin embargo con mucho esfuerzo ha sacado su negocio adelante y así poco a poco ha venido creciendo. Actualmente tiene grandes pedidos por parte de sus clientes, tanto que su capacidad de producción no puede responder a la demanda de sus clientes, por esto busca que un préstamo le permita comprar 2 prensas con lo cual aumente su capacidad de producción y pueda responder a los pedidos de sus clientes.

De esta manera podrá crecer más y tener mejores ventas, de modo que su familia tendrá mejores ingresos y así tener una mejor calidad de vida. Sus necesidades económicas son un poco altas, pues sus 2 hijas de 16 y 18 años de edad se encuentran estudiando y la universidad es muy costosa, pero gracias a su negocio les puede brindar el estudio. Su sueño es ver sus 2 hijas profesionales y tener en su hogar mejor calidad de vida y oportunidades económicas para progresar.

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
  • 177
    View loans »
    Colombia Loans Fundraising
  • $13,171,600
    Funds lent in using Kiva
  • 1,842.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $450 helped Ruben Darío to buy two presses and increase his production capacity and to respond to his customers' orders.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 29, 2012
Listed
Jul 1, 2012
Currency Exchange Loss:
Covered
Ended:
Jul 19, 2013