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Nelson Augusto
Nelson received training in the area of electrical item repairs. For two years he has had his own workshop where he offers the service to people in his municipality. Thanks to this business he generates the necessary income for covering household expenses in the home he shares with his wife and four children who are 2, 11, 16 and 17 years old. Previously the financial situation in his home was very tenuous, but with great effort Nelson has been able to bring this workshop along. In spite of the fact that he got started without much capital and he still lacks some tools for his work, his workshop has allowed him to offer his children access to a good quality education. In hopes of improving his work, Nelson is seeking a loan for purchasing hand tools and two electric soldering irons which will allow him to do better quality work.

Thus he will overcome the difficulty of having insufficient capital in order to improve his equipment and will also be able to provide better service to his customers. Furthermore he will be able to provide better income to his home so his family will have a better quality of life and better financial opportunities to make progress.
View original language description ↓
Nelson se capacitó en la actividad de la reparación de artículos eléctricos y desde hace 2 años tiene su propio taller donde ofrece el servicio a las personas de su municipio; y gracias a esta actividad genera los ingresos necesarios para el sostenimiento de los gastos de su hogar donde convive con su esposa y sus 4 hijos de 2, 11, 16 y 17 años de edad. Anteriormente la situación económica en su hogar se encontraba en grandes dificultades, pero con un gran esfuerzo Nelson ha logrado sacar este taller adelante y a pesar de que no fue montado con mucho capital y aún le hacen falta algunas herramientas para trabajar, su taller le ha permitido brindarles a sus hijos el acceso a una educación de buena calidad. Con el ánimo de mejorar su trabajo, Nelson busca un préstamo para comprar herramientas manuales y 2 soldadores eléctricos que le permitan realizar su trabajo con mejor calidad.

De esta manera superará la dificultad de capital que tiene para mejorar sus herramientas de trabajo y también logrará tener un mejor servicio para sus clientes. Además podrá brindar en su hogar mejores ingresos para que así su familia tenga una mejor calidad de vida y mejores 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

  • $11,100
    Average annual income
  • 415
    View loans »
    Colombia Loans Fundraising
  • $16,282,675
    Funds lent in using Kiva
  • 1,807.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,125 helped Nelson Augusto to purchase hand tools and two electric soldering irons which will allow him to do better quality work.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 14, 2012
Jul 9, 2012
Currency Exchange Loss:
Sep 22, 2013