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Luis Octavio
Luis, who is 29 years old, has worked as a salesperson in different stores that sell cell phones and accessories since he was very young. Here, he gained experience and knowledge in the management of this type of business. He also obtained the resources necessary to pay for his basic needs and contribute to his family.

With the goal of increasing his income and managing his own time, Luis would like to become independent and open his own business selling cell phone equipment and accessories. He is already leasing a location, but he needs the support of a this loan, which he requests so that he can buy fixed assets (windows and display cases), merchandise (screen protectors, headphones, batteries, cell phone equipment) and make improvements to his stand (paint the walls). This way, he will be able to start his business, give it a pleasant appearance, and offer a great variety of merchandise. He will also be able to provide service and repairs of cell phones. All of this will generate resources so that he will be able to continue to progress.

Luis dreams of growing his business and converting it into a distributor that will generate jobs. He knows that, to achieve this, he will need to work with care and great dedication. In this way, he will create a successful future that will give him the ability to improve his and his family's quality of life.
View original language description ↓
Luis a sus 29 años de edad ha trabajado desde que era muy joven en diferentes almacenes de venta de celulares y accesorios desempeñándose como vendedor de mostrador, allí adquirió experiencia y conocimiento en el manejo de este tipo de negocios, además ha conseguido los recursos necesarios para solventar sus necesidades básicas y aportar a la economía de su familia. Con el ánimo de mejorar sus ingresos y de manejar su propio tiempo, Luis desea independizarse y montar su propio negocio de venta de accesorios y equipos celulares, para esto ya tiene el local que tomó en arriendo, pero requiere del apoyo del crédito que solicita para comprar activos fijos (vitrinas y estantes), surtido de mercancía (protectores de pantalla, auriculares, baterías, equipos celulares) y realizará adecuaciones locativas (pintar las paredes), de esta manera podrá iniciar con su idea de negocio, dándole una imagen agradable y ofreciendo gran variedad de mercancía, además también prestará el servicio e reparación de equipos celulares, todo esto dará como resultado la generación de recursos para seguir progresando. Luis sueña con hacer crecer su negocio y convertirlo en una distribuidora donde pueda generar empleo y es consciente que para lograrlo debe trabajar con esmero y mucha dedicación, sólo de esa manera se forjará un futuro exitoso que le dará la capacidad de mejorar sus condiciones de vida y las de su familia.

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.

About Colombia

  • $11,100
    Average annual income
  • 498
    View loans »
    Colombia Loans Fundraising
  • $15,254,800
    Funds lent in using Kiva
  • 1,932.2
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $5,200 helped Luis Octavio to buy fixed assets (windows and display cases), merchandise (screen protectors, headphones, batteries, cell phone equipment) and make improvements to his stand (paint the walls).
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 2, 2013
Listed
Sep 3, 2013
Currency Exchange Loss:
Covered
Expired:
Oct 3, 2013