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Marino
Marino is a great artist who has been working for the last 15 years making paintings, an activity he learned on his own but that thanks to the experience he’s attained has become very well-known for offering very good quality.

Despite having started the business with very little capital, his efforts have made it possible for him to move ahead and today he’s able to provide employment for one person who helps him.

Thanks to the quality of the paintings he paints his sales have grown recently. In a few days, Marino will take part in a fair and in order to meet demand there he’s looking for financing to buy supplies like wood and paint to manufacture the paintings he hopes to respond to demand with. His dream is to become better known and to sell for higher prices because sometimes his income is low due to the high level of competition.
View original language description ↓
Marino es un gran artista que desde hace 15 años inició su negocio de fabricación de cuadros, actividad que aprendió empíricamente pero que gracias a la experiencia que tiene es reconocido por ofrecer muy buena calidad. Pese a que su negocio lo inició con muy bajo capital, su esfuerzo le ha permitido ir saliendo adelante y hoy día tiene la oportunidad de generar un empleo para una persona que le ayuda, y gracias a la calidad de sus cuadros pintados sus ventas han venido creciendo últimamente. Dentro de unos días Marino participará en una feria, y para poder responder a la demanda que allí hay, busca un préstamo que le permita comprar insumos como madera y pintura para fabricar los cuadros con los cuales responder a la demanda de la feria.

Su sueño es poder dar a conocer aún más su oficio y comercializarlo a un mejor precio, pues a veces sus ingresos son muy bajos por la alta competencia.

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
  • 465
    View loans »
    Colombia Loans Fundraising
  • $14,958,950
    Funds lent in using Kiva
  • 1,798.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $850 helped Marino to buy supplies like wood and paint.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 12, 2012
Listed
Oct 11, 2012
Currency Exchange Loss:
Covered
Ended:
Sep 22, 2013