Orlando De Jesus
Update on Orlando De JesusOrlando has vast experience raising chickens and pigs because he started this activity while still a boy thanks to his father’s teachings. For a long time he was employed by a firm and a few years go decided to become independent but due to economic difficulties he had at home his business has had big problems getting ahead.
A few months ago he was fattening up some pigs but because prices dropped considerably, the business lost much money and now he’s facing significant economic difficulties. This is why he does not have sufficient capital and why Orlando is calling upon a loan to buy chicks and feed needed to raise them. His dream is to have a business that will make it possible for him to provide his wife and three children with a better quality of life and better economic opportunities to get ahead.
Su sueño es poder tener un negocio que le permita ofrecerles a su esposa y sus 3 hijos una mejor calidad de vida y mejores oportunidades económicas para salir adelante.
Previous Loan DetailsOrlando has worked his entire life raising cattle and pigs but due to adverse life circumstances he had to stop this activity for a time. Now, Orlando wants to retake the work, an activity which used to allow him to generate sufficient income to cover household expenses. Orlando is 59 years… More from Orlando De Jesus's previous loan »
Important InformationThis 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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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Success!! The loan was 100% repaid
- Repayment Term
- 15 months (Additional Information)
- Repayment Schedule
- Jul 24, 2012
- Sep 6, 2012
- Currency Exchange Loss:
- Sep 22, 2013
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.