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José De La Cruz
José has made his living in business his whole life long. Since he was a young boy, his parents instilled in him the importance of working and getting ahead. A few years ago, José decided to open his own business selling the basic grocery items needed in his neighborhood. Today, he is a person who enjoys his neighbors' and his family's respect.
At his 33 years, José is father to a three-year old son. He works hard to guarantee his son, in the near future, a good education.
José wants to purchase an assortment of goods to help generate a greater income and fulfill his dream of acquiring a house and offering his family a better quality of life.
View original language description ↓
Durante toda su vida José se ha dedicado al comercio, debido a que desde niño sus padres le inculcaron la importancia de trabajar y salir adelante. Desde hace varios años, decidió montar su propio negocio dedicado a la venta de productos de la canasta familiar, dirigidos a satisfacer las necesidades del sector. Hoy es una persona que goza de la estima entre sus vecinos y familiares.
A sus 33 años, este hombre, es padre de familia de un hijo de tres años de edad, por el cual vela a fin de garantizarle en un futuro próximo una buena educación.
José desea comprar surtido con el propósito de generar mayores ingresos y cumplir su sueño de adquirir una vivienda y poder brindarle una mejor calidad de vida a su familia.

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
  • 251
    View loans »
    Colombia Loans Fundraising
  • $13,496,050
    Funds lent in using Kiva
  • 1,843.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $825 helped José De La Cruz to purchase basic grocery items.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 18, 2013
Listed
Apr 23, 2013
Currency Exchange Loss:
Covered
Ended:
Apr 17, 2014