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Jorge Eliecer
Jorge has been working for several years manufacturing his own line of cleaning tools like brooms, mops and brushes, among others. He’s supported his family by means of this business providing good quality of life for his home.

Some time ago Jorge was employed but when he was let go from his job he faced great economic difficulties and his wife and children had to go through them too. However, with much struggle and constant effort he was able to move his own business forward and in now able to generate income that allows his children to have a good quality education and there is better economic stability at home.

However, because he’s an only child, he must contribute economically to his mother so that she can also have a good quality of life and because she is no longer of working age Jorge must support her. Because his mother is currently unwell, Jorge is looking for a way to increase his income considerably to cover her medical expenses and this is why he’s looking for a loan to buy raw materials to manufacture his cleaning tools and be able to respond to large pending orders he has and generate the income needed for his mother.

In this way he will be able to provide what’s necessary for his mother and also continue generating income needed at home. His greatest dream is to move his business forward and to be able to generate employment to improve the quality of life of other people by means of his business.
View original language description ↓
Jorge lleva varios años trabajando en su propia fabricación de implementos de aseo como escobas, traperos, cepillos, entre otros más, y con este negocio ha logrado sacar adelante a su familia brindándoles una buena calidad de vida en su hogar. Desde hace un tiempo que tenía un empleo y fue despedido, Jorge tenía grandes dificultades económicas y su esposa y sus hijos tenían que padecer grandes dificultades también, pero fue con su esfuerzo y lucha constante que logró sacar su propio negocio adelante y ahora puede generar ingresos con los que sus hijos pueden tener una educación de buena calidad y en su hogar hay una mejor estabilidad económica. Sin embargo, debido a que es hijo único, debe contribuir económicamente a su madre para que pueda tener una buena calidad de vida, y debido a que su madre ya no está en edad de trabajar, Jorge debe garantizar todo su sustento. Es debido a que su madre en estos momentos se encuentra enferma que debe busca la manera de que sus ingresos aumenten considerablemente para poder sostener sus gastos médicos, y es por esto que busca un préstamo para comprar materias primas para la fabricación de sus implementos de aseo y así responder a grandes pedidos que tiene para poder generar los ingresos que necesita para su madre.

De esta manera logrará brindarle lo necesario a su madre y también continuará generando los ingresos que requiere en su hogar. Su mayor sueño es poder sacar su negocio adelante y tener la posibilidad de generar empleo para mejorarles la calidad de vida a otras personas a través de su negocio.

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
  • 289
    View loans »
    Colombia Loans Fundraising
  • $14,049,825
    Funds lent in using Kiva
  • 1,772.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,700 helped Jorge Eliecer to buy raw materials.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 30, 2012
Listed
Aug 1, 2012
Currency Exchange Loss:
Covered
Ended:
Jan 18, 2014