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Hector Dario

Update on Hector Dario

Héctor is 50 years old. He is an entrepreneur who has his own business where he sells candies and cell phone minutes. His work schedule is from 7:30 a.m. to 6:00 p.m. Monday through Saturday. He works hard to generate his own income and offer his son a good education.

He started developing his activity because his work contract as a bricklayer ran out. This situation led to him finding secondary employment to generate resources and support his family.

Today he needs to stock up to increase his sales and improve his income to guarantee his family a better quality of life. His biggest dream is own his own home.
View original language description ↓
Héctor de 50 años, es un emprendedor quien tiene su propio negocio en el cual vende dulces y minutos de celular, su horario de trabajo es de 7:30 a.m. a 6:00 p.m. de lunes a sábado. Trabaja arduamente para generar sus propios ingresos y ofrecerle a su hijo una buena educación.
Comenzó a desarrollar su actividad debido a que se le acabó su contrato como albañil, situación que lo condujo a subemplearse para la generación de recursos y el sostenimiento de su familia.
Hoy requiere de la compra de surtido, para aumentar sus ventas y mejorar sus ingresos con el fin de garantizarle a su familia una mejor calidad de vida. Su mayor sueño es poder tener vivienda propia.

Previous Loan Details

Hector Dario has worked in construction for many years, however in order to increase his income he decided to have a stall to sell sweets, packed lunches and cigarettes on the street. With this additional income he is able to increase his and his family's quality of life. He wants to have a gr... More from Hector Dario'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
  • 275
    View loans »
    Colombia Loans Fundraising
  • $13,623,825
    Funds lent in using Kiva
  • 1,820.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $825 helped Hector Dario to purchase supplies.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 13, 2013
Listed
Apr 7, 2013
Currency Exchange Loss:
Covered
Ended:
Nov 17, 2014
This photo was used before for a previous loan for Hector Dario. It was first posted on Kiva on Jul, 2011. Learn More