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Hector Ivan
Héctor’s a very tenacious young man who has worked hard in life to get ahead and to be able to help his parents because he comes from a family of very low economic resources. Some time ago he got a job working in a cafeteria and through hard work has been moving his parents forward offering them a better quality of life and greater economic opportunities.

Now, Héctor is married and has a one-year-old son. The owner of the business he’s employed at has given him the opportunity of buying the cafeteria and Héctor has been working very hard to earn the money he needs to pay for it and thus to have his own business. Despite the economic difficulties he’s always had his strength and daily efforts at work have made it possible for him to move forward and overcome the great difficulties that arise. Now that he has this opportunity, Héctor is looking for a loan to buy fried food and some other ingredients he needs in the cafeteria to provide better customer service.

His greatest dream is to have a restaurant and hopes to do so which is why he continues working hard. He also hopes to improve his parents’, his wife’s and his one-year-old son’s quality of life.
View original language description ↓
Hector es un joven muy luchador que ha trabajador fuertemente en la vida para salir adelante y poder ayudar a sus padres ya que proviene de una familia con muy escasos recursos económicos. Desde hace un tiempo consiguió empleo en una cafetería y trabajando fuertemente ha venido sacando sus padres adelante, ofreciéndoles una mejor calidad de vida y mayores oportunidades económicas. Ahora, Hector se encuentra casado y tiene un hijo de 1 año de nacido, y gracias a que el dueño del negocio donde trabajaba le ofreció la gran oportunidad de hacerse dueño de la cafetería, Hector ha venido trabajando fuertemente para poder cumplir con el dinero que debe pagar y así poder tener su propio negocio. A pesar de las dificultades económicas que siempre ha tenido, la fortaleza y el esfuerzo diario que hace en su trabajo le han permitido salir adelante y superar las grandes adversidades que se le presentan; y ahora que tiene la oportunidad, Hector busca un préstamo para comprar comidas fritas y algunos otros insumos que requiere en su cafetería para ofrecer un mejor servicio a sus clientes.

Su mayor sueño en la vida es llegar a tener un restaurante y aspira a que lo pueda lograr si sigue trabajando fuertemente. Además, aspira a poder mejorarles la calidad de vida a sus padres, su esposa y su hijo de 1 año.

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
  • 524
    View loans »
    Colombia Loans Fundraising
  • $14,666,500
    Funds lent in using Kiva
  • 1,830.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,550 helped Hector Ivan to buy fried food and ingredients for his snack bar.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 18, 2012
Listed
Sep 3, 2012
Currency Exchange Loss:
Covered
Ended:
Nov 18, 2013