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Yonar Alexander
Yonar is married and has two daughters, ages 4 and 7. To generate the household income he needs he has a repair shop for motors for lawnmowers and other agricultural machines.

The idea of his business came up when a customer told him that this type of shop was not easy to find. This made the overhead for transporting the parts desirable for a nearby business. This was how Yonar, with his experience and having studied mechanics, decided to set up his motor-repair business.

Since he set up his shop, his family's quality of life has improved considerably and his daughters have been able to get a better education. Nevertheless, he still has a lot of problems with capital in his business, so he's looking for a loan to buy the parts he needs to repair motors and shelves for storing the parts and his tools.

His dream is to be able to get his family ahead, giving his daughters a better education and a better quality of life at home.
View original language description ↓
Yonar se encuentra casado y tiene 2 hijas de 4 y 7 años de edad y para generar los ingresos que requiere en su hogar tiene un taller de reparación de motores de guadañadoras y otras máquinas utilizadas en la agricultura. La idea de su negocio surgió cuando un cliente le dijo que este tipo de talleres no se encontraban muy fácil y eso hacía que los sobrecostos por transporte de las piezas de repuesto hicieran muy apetecido un negocio así cercano. Fue así que Yonar con la experiencia que tiene y haber estudiado mecánica decide montar su negocio de reparación de motores. Desde que montó su taller la calidad de vida de su familia ha mejorado considerablemente y sus hijas han podido acceder a una educación de mejor calidad, sin embargo aún cuenta con grandes dificultades de capital en su negocio y por esto busca un préstamo para comprar repuestos que requiere para la reparación de los motores y una estantería para ubicar los repuestos y sus herramientas.

Su sueño es poder sacar su familia adelante brindándoles una mejor educación a sus hijas y una mejor calidad de vida en el hogar.

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
  • 509
    View loans »
    Colombia Loans Fundraising
  • $14,967,675
    Funds lent in using Kiva
  • 1,810.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,125 helped Yonar Alexander to buy parts for repairs and shelves to store the parts and his tools.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 28, 2012
Listed
Sep 7, 2012
Currency Exchange Loss:
Covered
Ended:
Sep 25, 2014