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Joany Arlez

Update on Joany Arlez

Joany is 44 and is married with 4 children. He has been a salesman since he was young but, 4 years ago, decided to set up his own shop. His family is his source of motivation and energy and he works every day from 7am to 9pm. His wife also helps him when she has looked after the children and finished her housework. He hopes to see his business grow and generate a greater income which will give his two older children the chance to go to university. Joany faces great challenges in life, and is determined to overcome them. His number one priority is to buy a home for his family, but he currently lacks sufficient resources. He wants to apply for a loan to invest in his shop and generate more income, so he can use part of it as a down payment on his house. He hopes that he can improve his family's financial position and change their quality of life.
View original language description ↓
Joany de 44 años edad, es casado y tiene 4 hijos. Desde joven se ha dedicado al comercio, pero desde hace 4 años decidió montar su propio negocio. Su familia es su motivación y su fuente de energía, trabaja todos los días de 7 de la mañana a 9 de la noche y su esposa le ayuda después de atender a sus hijos y realizar las labores del hogar. Espera que su negocio crezca para generar mayores ingresos y ofrecerles a sus dos hijos mayores la posibilidad de entrar a la universidad. Joany tiene grandes retos en la vida y desea luchar por ellos, el más prioritario es comprar una vivienda para su familia, pero aún no cuenta con los recursos suficientes. Desea solicitar un préstamo para invertirlo en su tienda y generar mayores entradas que le permitan destinar una parte para la cuota inicial de su casa. Espera poderle mejorar a su familia la situación económica para cambiar la calidad de vida.

Previous Loan Details

At 43 years of age, Joany is considered to be a determined small businessman who has worked to see his four children get ahead. Even though his financial conditions have not been the best, he dreams of providing his family a better future. Joany previously was a merchant in his hometown, but he... More from Joany Arlez'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

  • $6,070
    Average annual income
  • 274
    View loans »
    Colombia Loans Fundraising
  • $13,610,900
    Funds lent in using Kiva
  • 1,790.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,125 helped Joany Arlez to buy grocery products.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 23, 2012
Listed
Jan 2, 2013
Currency Exchange Loss:
Covered
Ended:
May 17, 2013
This photo was used before for a previous loan for Joany Arlez. It was first posted on Kiva on Sep, 2011. Learn More