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Samuel Humberto
Samuel has worked his whole life in the activity of selling produce and vegetables. For a long time he worked in the market plaza and in that way he generated the income his wife and 2 children needed in his home. Right now, Samuel has his own business which he has run for 10 years. He is raising 2 children, aged 15 and 18, because their mother abandoned them a while ago without making any financial contribution for their support. Thanks to his hard work in his business, his 2 children have been able to have a quality education. Now his oldest son can go to the university. He is seeking the financial resources to offer him that possibility, but his financial situation has been very difficult. Despite this, Samuel keeps working hard and this has allowed him to have very good sales. That is why he is now seeking a loan to buy produce and vegetables to stock his business and offer his customers a good variety of products.

Samuel hopes that his sales will keep growing so that his son will have the financial resources necessary to go to college and be able to graduate with a career. His biggest dream is for his business to allow him to get ahead and he yearns to have his own home to offer a more stable home to his children.
View original language description ↓
Samuel ha trabajado toda su vida en la actividad de la venta de legumbres y verduras, pues durante mucho tiempo trabajó en la plaza de mercados y de esta manera generaba los ingresos que requerían en su hogar su esposa y sus 2 hijos. Actualmente Samuel tiene su negocio propio el cual atiende desde hace unos 10 años y también está a cargo de sus 2 hijos de 15 y 18 años de edad, pues la madre de sus hijos los abandonó hace un tiempo sin hacer alguna contribución económica para su sostenimiento. Gracias a los grandes esfuerzos que hace en su negocio sus 2 hijos han logrado tener la oportunidad de asistir a una educación de buena calidad, pero ahora que su hijo mayor puede acceder a la universidad está buscando los recursos económicos para brindarle esta posibilidad pero ha sido muy difícil la situación económica. A pesar de esto, Samuel sigue trabajando fuertemente y esto le ha permitido tener muy buenas ventas, por esto ahora busca un préstamo para comprar verduras y legumbres y surtir su negocio para ofrecer a sus clientes una buena variedad de productos.

Samuel espera que sus ventas sigan creciendo para que su hijo tenga los recursos económicos necesarios para asistir a la universidad y poder graduarse de profesional. Su mayor sueño es que su negocio les permita salir adelante y anhela comprarse su casa propia para ofrecer un hogar más estable a sus hijos.

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
  • 482
    View loans »
    Colombia Loans Fundraising
  • $14,958,950
    Funds lent in using Kiva
  • 1,790.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $850 helped Samuel Humberto to buy vegetables and produce to stock his business and offer his customers a good variety of products.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 16, 2012
Listed
Aug 23, 2012
Currency Exchange Loss:
Covered
Ended:
Sep 22, 2013