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Jorge Juan
Jorge is a 33 year old entrepreneur. He worked for more than eight years in a mat factory where he learned and aquired experience. About a year ago, he decided to leave and start his own business, taking advantage of the knowledge he obtained. He works from his home and does marketing by telephone and on social networks to save costs. He works every day from 7:00am until 6:00pm.

Since his business is in the starting phase, Jorge is requesting a loan to invest in the purchase of materials to make a larger number of mats that his customers have ordered. His biggest hope is to grow in this market and reach a point of maturity that will allow him to give his family better living conditions.
View original language description ↓
Jorge de 33 años, es un emprendedor. Laboró por más de ocho años en una fábrica de tapetes en donde aprendió y adquirió experiencia en la actividad. Desde hace un año decidió retirarse y crear su propia empresa aprovechando los conocimientos adquiridos. Labora desde su vivienda y a que las gestiones de mercadeo por teléfono y redes sociales con el fin de ahorrar costos.
Labora diariamente de siete de la mañana a seis de la tarde.
Como su negocio está en la etapa de introducción, Jorge se encuentra solicitando un crédito que invertirá en la compra de insumos para la fabricación de un mayor número de tapetes que le han solicitado sus clientes. Su mayor deseo es crecer dentro de este mercado y alcanzar su punto de maduración, lo que le permitirá garantizarle a su familia mejores condiciones de vida.

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

  • $11,100
    Average annual income
  • 492
    View loans »
    Colombia Loans Fundraising
  • $15,254,800
    Funds lent in using Kiva
  • 1,848.1
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $650 helped Jorge Juan to purchase supplies to make mats.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 8, 2013
Listed
Apr 18, 2013
Currency Exchange Loss:
Covered
Ended:
Jul 17, 2014