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Mario
Mario is very entrepreneurial and also always has been characterized for being a fighter in life. Many years ago he used to generate earnings as a truck driver but this was not enough to sustain his family. Because of this, one day he decided to start up a business that he wanted. It was in this way that he began his food stall, cooking in a vehicle located outside his house. Thanks to his efforts and extensive hours working after three months he has been able to locate his stall in a locale of the area and from there offer better service to his customers since he now has better equipment to prepare his food.

As everything was going well for him, he has to move to a new locale and now is there working hard to continue moving his business forward and continue generating earnings to offer his family a good quality life. In order to be able to fulfill a requirement from the health authority, Mario is seeking a loan to buy a range hood and ventilation duct.

His dream is to be able to improve his business more everyday and save money that he needs to buy his own house where he could offer his family a more stable home.
View original language description ↓
Mario es muy emprendedor y también siempre se ha caracterizado por ser muy luchador en la vida. Hace muchos años generaba sus ingresos trabajando como conductor de un camión, pero como esto no era suficiente para sostener su familia un día decidió emprender y montar un negocio de lo que el quería. Fue así como inició con un puesto de venta de comidas rápidas, cocinando en un carrito y ubicado a las afueras de su casa; gracias a su esfuerzo con extensas jornadas de trabajo a los 3 meses se pudo ubicar en un local del sector y desde allí pudo tener una mejor atención para los clientes gracias a que contaba con mejores equipos para la preparación de las comidas. Como le estaba yendo tan bien, se tuvo que trasladar hacia otro local y ahora desde allí está trabajando fuertemente para seguir saliendo adelante con su negocio y continuar generando los ingresos con los cuales ofrece a su familia una buena calidad de vida. Para poder cumplir con un requerimiento de las autoridades de sanidad, Mario busca un préstamo para comprar una campana extractora de olores, y construir el túnel de evacuación.

Su sueño es poder mejorar cada vez más con este negocio y ahorrar el dinero que necesita para comprarse una casa propia donde pueda ofrecerle a su familia un hogar más estable.

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
  • 246
    View loans »
    Colombia Loans Fundraising
  • $13,361,775
    Funds lent in using Kiva
  • 1,798.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $850 helped Mario to buy a range hood and ventilation duct.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 12, 2012
Listed
Oct 12, 2012
Currency Exchange Loss:
Covered
Ended:
Mar 15, 2013