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Orlando De Jesús
Orlando is 36 years old and owns a miscellaneous items store, where he sells a variety of items such as shoes, toiletries, paper goods, toys, and other things. He got the idea for this business from the need to generate an income to pay the household expenses. He is part of a group of persons who had to resettle because of the violence that had developed in his home village. He arrived in the city with his family, in search of new opportunities to start over. He is asking for a loan so he can buy inventory in quantity (toys, home accessories, toiletries, and other things) and make some improvements to his store (fix the façade) so that it presents a better image and so that it will be attractive to passersby. He will also be able to stock his store with items that will satisfy the needs and wants of people who visit and increase his sales. This will allow him to have better financial solvency and living conditions at home.
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Orlando, a sus 36 años de edad, es propietario de una miscelánea donde ofrece gran variedad de artículos como zapatos, productos de aseo, artículos de papelería, juguetes, entre otros. Su idea de negocio surgió por la necesidad de generar ingresos para solventar los gastos de su hogar, ya que hacen parte de un grupo de víctimas de desplazamiento forzado, debido a la violencia que se presentó en su pueblo natal; en compañía de su familia llega a la ciudad en busca de nuevas oportunidades para comenzar desde cero y poder salir adelante. El cliente es un hombre trabajador, pujante y lucha incansablemente para lograr sus objetivos. Esto lo motiva a solicitar el crédito, que invertirá en la compra de surtido al por mayor (juguetería, accesorios para el hogar, productos de aseo, entre otros) y realizar adecuaciones locativas (arreglar la fachada del local), de esta manera el establecimiento tendrá una mejor imagen, que sea atractiva para los transeúntes, además podrá capitalizar su negocio con gran variedad de artículos que satisfagan los gustos y requerimientos del público que lo visita, aumentando sus ventas y el margen de ganancia que obtiene. Esto le permitirá tener una mayor solvencia económica para mejorar las condiciones de vida de su hogar.

Additional Information

More information about this loan


By funding this loan, you are promoting entrepreneurship in remote regions, including areas recovering from guerilla warfare in Colombia, and helping to reverse the rural exodus which occurred in the past decades when a the rural population fled their countryside homes for the safer cities.

This Kiva loan was created by Kiva's field partner Interactuar specifically for Kiva funding, in an effort to reach more borrowers in rural areas. Most of the Interactuar's lending operations are focused in urban parts of Medellin. But this loan product is designed to provide working capital to riskier agricultural businesses who have been traditionally excluded from the finance sector.

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.

Tags

About Colombia

  • $6,070
    Average annual income
  • 275
    View loans »
    Colombia Loans Fundraising
  • $13,826,450
    Funds lent in using Kiva
  • 1,928.1
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $2,600 helped Orlando De Jesús to stock his store.
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 29, 2013
Listed
Aug 30, 2013
Currency Exchange Loss:
Covered
Expired:
Sep 29, 2013