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John Mario
John is 35 years old and lives with his wife and two-year-old son. He has been working the past seven years in his business, a variety store where he sells clothing, personal grooming products, baby items, and other merchandise. John initially set up his business in a rented location, but later on he was able to rent a much larger building where his store is currently located. He and his wife work every day of the week.

John is a determined, hardworking, and active man who is dedicated to his family and his job. He is always looking for ways to get ahead. For this reason, he is requesting a loan so that he can invest in merchandise in bulk (clothing, shoes, grooming products, umbrellas, school supplies, and other items) in order to increase his sales. By having a wider variety of merchandise, John will be able to satisfy the tastes and needs of his customers. This will result in an increase in his profit margin.

John dreams of strengthening his business, building it up to make it profitable, and sustaining it over time. This will guarantee his financial stability so that he can provide his family better well-being and an improved quality of life.
View original language description ↓
John tiene 35 años de edad, vive con su esposa y su pequeño hijo de 2 años. Desde hace 7 años se dedica a trabajar en su negocio, un almacén de variedades, donde ofrece ropa, productos de aseo personal, artículos para bebé, entre otros. Inicialmente el negocio estaba ubicado en un local arrendado, pero luego pudo alquilar una casa más grande y allí montó su negocio, en el cual trabaja con su esposa todos los días de la semana. El cliente es un hombre pujante, trabajador, activo y dedicado a su familia y a su labor, siempre está buscando opciones que le ayuden a salir adelante, es por ello, que solicita el apoyo del crédito, que invertirá en la compra de surtido al por mayor (ropa, calzado, productos de aseo, sombrillas, útiles escolares, entre otros) esto le ayudará a incrementar sus ventas, pues tendrá más variedad de mercancía para satisfacer los gustos y necesidades de sus clientes, dando como resultado un incremento en el margen de utilidades. John sueña con fortalecer su negocio, acreditarlo para que sea rentable y sostenible en el tiempo, lo que le permitirá garantizar una estabilidad económica y brindar 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.

About Colombia

  • $6,070
    Average annual income
  • 249
    View loans »
    Colombia Loans Fundraising
  • $13,361,775
    Funds lent in using Kiva
  • 1,945.5
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $1,150 helped John Mario to buy clothing, shoes, grooming products, umbrellas, school supplies, and other items to sell.
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 31, 2013
Listed
Sep 4, 2013
Currency Exchange Loss:
Covered
Expired:
Oct 4, 2013