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Gustavo Adolfo
Gustavo, 36, is a taxi driver in the city of Medellín, Colombia and also owns a shoe finishing workshop located at home that he, his wife and one of his three sons work in. With this activity he’s been able to cover family costs and guarantee an education for his children since urban passenger transportation doesn’t always yield the expected profits. He started the activity motivated by his brother-in-law who has a shoe-making micro business and he provided him the training and the tools to start the business. To date, he’s been in this activity for two years and feels great satisfaction because he’s seen his family’s quality of life improve. He’s currently looking for a loan to buy a machine to streamline production and increase sales which will lead to higher income that will mean well-being for his home.
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Gustavo de 36 años de edad es taxista en la ciudad de Medellín, Colombia, y propietario de un taller de terminación de calzado ubicado en su residencia, el cual labora en conjunto con su esposa y uno de sus tres Hijos. Con esta actividad han podido solventar los gastos familiares y garantizarle a sus hijos educación, ya que en ocasiones el transporte de pasajeros no deja la utilidad esperada.
Inicio la actividad gracias a la motivación de un cuñado que posee una microempresa de calzado y le suministró el conocimiento y le facilitó las herramientas para iniciar con el negocio.
Hoy lleva dos años con la actividad y siente gran satisfacción por que ha visto mejorar la calidad de vida de su familia.
En la actualidad se encuentra en búsqueda de un crédito para la compra de una máquina con el fin de agilizar el proceso de producción y aumentar sus ventas lo que le permitirá obtener mejores ingresos que se traducirá en bienestar para su hogar.

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
  • 168
    View loans »
    Colombia Loans Fundraising
  • $12,834,025
    Funds lent in using Kiva
  • 1,780.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Gustavo Adolfo to buy a machine to finish making shoes.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 18, 2013
Listed
Feb 1, 2013
Currency Exchange Loss:
Covered
Ended:
Sep 22, 2013