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Hernando Jaime

Update on Hernando Jaime

Hernando learned the movie and video game rental trade 13 years ago. Since then, he has managed his own business so that he can generate the income he needs to sustain his household. His greatest challenge is dealing with the competition in his area, so Hernando looks for ways to differentiate himself by offering transcription services, in-house video game usage in his business, and other services. This enables him to survive in the marketplace and increase his clientele.


Hernando seeks to improve his business, so he continues to take advantage of opportunities that have been presented to him. Therefore, he is requesting a loan so that he can buy movies and video games, which will increase the variety he offers to his customers.


His dream is to make his business larger so that he can improve his family’s income. In addition, Hernando wants to create jobs so that he can help others make progress.

View original language description ↓
Hernando aprendió la actividad de alquiler de películas y videojuegos hace unos 13 años, y desde entonces ha tenido su propio negocio con el cual genera los ingresos que requiere para el sostenimiento de su hogar. Como la gran dificultad que tiene es la competencia que hay en el sector, Hernando busca diferenciarse ofreciendo otros servicios como trascripción de textos, videojuegos en el negocio y otros más, de esta manera puede sobresalir en el mercado y sus clientes cada vez vienen aumentando. Buscando mejorar su negocio y continuar aprovechando las oportunidades que se le están presentando, Hernando busca un préstamo para comprar películas y videojuegos para aumentar la variedad que ofrece a sus clientes.

Su sueño es hacer que su negocio sea más grande y poder mejorar los ingresos para su familia. Además poder generar empleo y ayudar a otros a progresar.

Previous Loan Details

Hernando is noted for being a very hard-working man who creates new ideas for his business so that he is never beaten in terms of sales by the high level of competition that exists in his region. Hernando is very well known for offering a very good service to his customers. This has gained him ... More from Hernando Jaime's previous loan »

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.

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.

About Colombia

  • $11,100
    Average annual income
  • 500
    View loans »
    Colombia Loans Fundraising
  • $14,958,950
    Funds lent in using Kiva
  • 1,798.5
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $1,675 helped Hernando Jaime to buy movies and video games.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 17, 2012
Listed
Nov 1, 2012
Currency Exchange Loss:
Covered
Expired:
Nov 30, 2012