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Harold Alonso
Harold Alonso is 43 years old and he has always found ways to manage in life, working from dawn till dusk as a street vendor in order to provide his family with staple food. Having not had the chance to study, he consequently found no job opportunities and so he decided to learn how to create cleaning tools such as sweepers, floor mops and brushes. He then set up a tools factory in his house with the help of his family, and having studied the market by observing it, he came to the conclusion that floor mops were the mostly required products, thus deciding to specialize in this article. He is currently requesting a loan to buy raw materials in order to increase his production and to start expanding his activity to other areas of the department of Antioquia, Colombia. His biggest dream is to succeed in starting a big company that will give him the chance to create job opportunities.
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Harold Alonso de 43 años de edad se ha rebuscado la vida, trabajando de sol a sol en la calle, para llevar a casa el pan de cada día. No tuvo la facultad de estudiar por lo cual las oportunidades de empleo fueron nulas. Decidió aprender el oficio de la fabricación de útiles de aseo como escobas, trapeadores y cepillos. Después de aprenderlo con la ayuda de su familia montó la fábrica en su casa y desde allí comenzó a comercializarlas en las tiendas del barrio. Realizó un estudio de mercado a través de la observación en donde concluyó que el producto que mayor aceptación tuvo fueron los trapeadores, por lo cual se especializó en este artículo. En la actualidad se encuentra solicitando un crédito para la compra de materia prima debido a que desea aumentar la producción y empezarse a expandir por otros territorios del departamento de Antioquia, Colombia. Su mayor sueño es poder montar una gran empresa que le permita generar fuentes de empleo.

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
  • 278
    View loans »
    Colombia Loans Fundraising
  • $13,826,450
    Funds lent in using Kiva
  • 1,767.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Harold Alonso to purchase dowels, wicks, and handles for mops.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 11, 2012
Listed
Jan 8, 2013
Currency Exchange Loss:
Covered
Ended:
Nov 18, 2013