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Héctor Emilio

Update on Héctor Emilio

Héctor, 60 years old, lives in the city of Medellín, where he works daily from 10 am - 12 am in a delicatessen, which he set up with a lot of effort and dedication. Thanks to this work he has managed to get his family ahead, made up of his wife and two children.

His biggest dream is to guarantee his family decent living conditions and ensure the growth and durability of his business in the market, as he is convinced that this will be the legacy he will leave to his children and them to his grandchildren. With the aim of improving the hygienic and healthy conditions of his business, Héctor is asking for a loan which he will invest in making alterations to his premises in order to offer a better service and to buy a range of products so he has an inventory of stock.
View original language description ↓
Héctor de 60 años de edad, se encuentra radicado en la ciudad de Medellín en donde labora diariamente de diez de la mañana a doce de la noche en una salsamentaría, que ha creado con esfuerzo y mucha dedicación. Gracias a esta actividad ha logrado sacar adelante a su familia, compuesta por su esposa y dos hijos.
Su mayor sueño es garantizarle a su familia condiciones de vida digna y velar por el crecimiento y la permanencia en el mercado de su negocio, ya que está convencido que éste será el legado que le entregará a sus hijos y estos a su nietos.
Con el fin de mejorar las condiciones higiénicas y de salubridad de su negocio, Héctor se encuentra solicitando un crédito que invertirá en adecuaciones locativas para prestar un mejor servicio y la compra de surtido para contar con un stock de inventario.

Previous Loan Details

Héctor, age 59, works every day until 12 midnight in order to get his family ahead. He has two children. He has had a cured meats shop for 20 years. It is widely known by the inhabitants of his neighborhood and bordering neighborhoods. It is well-known not only for his years of experience, bu... More from Héctor Emilio'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
  • 378
    View loans »
    Colombia Loans Fundraising
  • $16,201,675
    Funds lent in using Kiva
  • 1,829.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,100 helped Héctor Emilio make alterations to his premises and buy stock.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Mar 13, 2013
Mar 29, 2013
Currency Exchange Loss:
Jan 18, 2014