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Ángel Humberto
Angel, 51 years old, is married and the father of two children. He worked as an excavator in a mine for most of his working life. However, due to the high risk associated with mining, he decided to retire from this profession and dedicate more time to his children.

Because of difficult economic circumstances facing his family, Angel decided to start his own business. He obtained a sales stand in a very busy part of the area where he lives. However, he needs the help of a loan to invest in the purchase of a freezer, to do renovations to his place of business (by painting his stand), and to buy stock wholesale (snacks, cookies, pastries, soft drinks, milk products). This will allow him to earn enough income to continue to provide for the basic needs of his household. Furthermore, he will be in charge of his own time, so that he can devote it to his family.

Angel is a hardworking and determined man who is dedicated to his family. For this reason, he wants to fulfill his dream and finish making the payments required to earn his pension, which will guarantee the wellbeing of his family and provide them with a better quality of life.
View original language description ↓
Ángel, con 51 años de edad, es casado y padre de 2 hijos. Durante la mayor parte de su vida productiva laboró como excavador en una mina, pero, debido al alto riesgo al que estaba expuesto decidió retirarse, para poder dedicarle más tiempo a sus hijos. Debido a la difícil situación económica que atraviesa su familia, Ángel decide iniciar su propio negocio, para lo cual ya consiguió una caseta en una zona muy transitada del sector donde reside, pero requiere el apoyo del crédito para invertirlo en la compra de un nevera, realizar adecuaciones locativas (pintura de la caseta) y comprar surtido al por mayor (mecato, galletería, confitería, gaseosas , productos lácteos); esto le permitirá obtener recursos para continuar sustentando las necesidades básicas en su hogar y además tendrá el manejo de su propio tiempo para dedicarlo a su familia. Ángel es un hombre luchador, pujante, dedicado a su familia, por esta quiere cumplir el sueño de terminar de cotizar las semanas requeridas para obtener su pensión para así garantizar a su familia una mejor calidad de vida y bienestar.

Additional Information

More information about this loan

By supporting this loan, you're helping a borrower launch a new business!

This loan is designed for an entrepreneur who needs working capital to start a brand new business. Along with the loan, Kiva's field partner Interactuar provides counseling, training courses, and other financial resources to help new, riskier entrepreneurs set up young businesses.

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.

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About Colombia

  • $6,070
    Average annual income
  • 289
    View loans »
    Colombia Loans Fundraising
  • $13,837,125
    Funds lent in using Kiva
  • 1,887.6
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,075 helped Ángel Humberto to buy a freezer, improve his sales stand, and to buy stock wholesale.
100% repaid
Repayment Term
23 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 26, 2013
Listed
Aug 15, 2013
Currency Exchange Loss:
Covered
Ended:
Feb 20, 2015