Check out some available loans that are similar to this one!
Jorge Nelson
Jorge is 43 years old, married, and has a 23 year old son. He had been working as a mechanic, repairing cars and motorcycles for 15 years, helping his father. After 10 years his father passed away and he took charge of the shop, where he specialized in the sale of motorcycle parts because this required less capital. Since then he has worked tirelessly to get his family ahead and he was able to buy a house with his earnings.

Jorge is a happy, active, and friendly man, well known in the area because of the good quality service he provides. This motivates him to improve each day. He needs a loan to buy supplies in quantity (spark plugs, bulbs, mirrors, lubricants, additives, and other things), which will allow him to increase his inventory to meet his customer demand and continue providing quality service. This way he can keep his customers loyal. This will be reflected as increased income with which he will be able to move toward achieving his dream of strengthening and growing his business in order to generate more employment opportunities and be able to offer his family better wellbeing and quality of life.
View original language description ↓
Jorge tiene 43 años, es casado y tiene un hijo de 23 años. Desde que tenía 15 años conoció la labor de la mecánica y reparación de autos y motos, laborando como ayudante de un taller al lado de su padre. Luego de 10 años, su padre falleció y él quedó a cargo del taller, el cual especializó en la reparación y venta de accesorios para motocicletas, ya que esta actividad demandaba menos capital de trabajo. Desde entonces ha trabajado incansablemente para sacar adelante a su familia y con los ahorros que hizo pudo adquirir su casa propia. Jorge es un señor pujante, alegre, activo y amable, es reconocido en el sector por la buena calidad en el servicio que presta. Esto lo motiva a mejorar cada día y para lograrlo, solicita el apoyo del crédito, pues desea comprar repuestos e insumos al por mayor (bujías, bombillos, retrovisores, aceites, aditivos, entre otros), con lo cual podrá aumentar el inventario de repuestos para satisfacer la demanda de sus clientes y continuar prestando un servicio con calidad, que le ayude a fidelizar a su clientela. Esto se verá reflejado en el aumento de ingresos, con los cuales podrá seguir avanzando hacia el cumplimiento de su principal sueño que es fortalecer su negocio y hacerlo crecer para generar nuevas oportunidades de empleo, además tendrá la capacidad para ofrecer a su familia un mejor bienestar y calidad 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.

Tags

About Colombia

  • $6,070
    Average annual income
  • 265
    View loans »
    Colombia Loans Fundraising
  • $13,496,050
    Funds lent in using Kiva
  • 1,940.4
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $1,050 helped Jorge Nelson to buy spare parts.
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 29, 2013
Listed
Aug 31, 2013
Currency Exchange Loss:
Covered
Expired:
Sep 30, 2013