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Luis Enrique
Luis, 59, is the father of one son. He lives with his common-law companion.

In his work life Luis has made a living on various farms in the area where he lives. About 10 years ago, however, he decided to go out on his own and set up a grocery store where he works every day from 8 a.m. until 9 p.m. This is how he earns enough money to support his household.

Luis is a thriving, persevering, and kind man. He works with care to get his business ahead, overcoming various difficult moments, especially the public type of problems that come up and affect his sales and, consequently, his income. This didn't get in the way of his perseverance, however, and little by little the situation has improved.

This is what motivates Luis to request the loan he wants to invest in buying stock wholesale (oil, cleaning products, grains, pasta, pastry, cookies, canned goods, and other products). He also wants to buy display cases and shelves to improve the storage capacity of his business and offer a greater variety of products to satisfy his customers' tastes and needs.

This way Luis will increase his sales and his income, and have the possibility of moving toward his dream of expanding his business and having it well stocked. This will generate greater income for him, and he and his family will enjoy a better quality of life and well-being.
View original language description ↓
Luis tiene 59 años de edad, padre de un hijo y vive en unión libre con su compañera sentimental. Durante su vida productiva se ha dedicado a trabajar en diferentes fincas de la región donde reside, pero hace aproximadamente 10 años decidió independizarse y, con un dinero que le prestaron, montó una tienda de abarrotes en la que trabaja todos los días de 8:00 am a 9:00 pm, es así como obtiene los recursos suficientes para llevar el sustento a su hogar. El cliente es un señor pujante, luchador, amable y perseverante, trabaja con esmero para sacar su negocio adelante, sobrepasando momentos difíciles por diversos motivos, especialmente los problemas de orden público que se presentaban durante varios días, lo que afectaba directamente sus ventas y por ende sus ingresos, sin embargo, esto no lo detuvo en su lucha y poco a poco la situación ha ido mejorando. Esto lo motiva a solicitar el crédito que desea invertir en la compra de surtido al por mayor (aceite, productos de aseo, granos, pastas, mecato, galletería, productos enlatados, entre otros) y compra de vitrinas y estantes, con esto podrá mejorar la capacidad del negocio para el almacenamiento y ofrecerá una mayor variedad de productos para satisfacer los gustos y necesidades de los clientes, aumentando así las ventas y los ingresos que recibe. De esta forma, Luis tendrá la posibilidad de avanzar hacia el cumplimiento de su sueño que es ampliar su negocio y tenerlo bien surtido, que le genere mejores ingresos y pueda disfrutar al lado de su familia una mejor calidad de vida y bienestar.

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
  • 138
    View loans »
    Colombia Loans Fundraising
  • $12,792,775
    Funds lent in using Kiva
  • 1,914.6
    Colombia Pesos (COP) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $1,575 helped Luis Enrique to buy stock wholesale.
59% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 20, 2013
Listed
Sep 18, 2013
Currency Exchange Loss:
Covered