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Jhon Jaime
John, who is 55 years old, is married and has three children. He started learning business when he was eighteen, since he helped his godfather in a butcher shop, where he learned a lot of what he knows today. Thanks to that, he currently runs a grocery store and butcher shop, which he set up six years ago. He works on his own every day from 7:00 am to 6:00 pm, and this has allowed him to generate the financial resources he needs to support his wife and children.

This client is an energetic, active, persevering, and hardworking man. He has kept his business going in spite of the problems that arise, since his business is located in one of the areas with highest crime incidence in the city and he is exposed to disorderly conduct and altercations among neighborhood gangs. He must also pay fees to the different groups operating outside the law in order to keep his business open to the public. Even so, he has managed to overcome the situation and has gradually made progress.

The loan he is requesting is to invest in purchasing a display case and wholesale products to stock his business (dairy, grains, eggs, meat, cookies, pastries, sodas, and other items). This will allow him to improve his store's image and attract more customers, and he will also have a wider variety of products available for sale. This will result in an increase of sales and income, which will allow him to continue providing for his family.

John's dream is to strengthen and expand his business, so that in the near future he can buy his own retail space where he could offer employment opportunities and improve financial stability for his family's wellbeing and to increase their quality of life.
View original language description ↓
John, con 55 años de edad, es casado y padre de 3 hijos. Desde que tenía 18 años de edad, conoció la actividad comercial, pues le ayudaba a su padrino en una carnicería, allí aprendió gran parte de lo que hoy en día sabe. Gracias a ello, actualmente tiene una tienda de abarrotes y carnicería, que montó desde hace 6 años; trabaja solo todos los días de 7:00 am a 6:00 pm, de esta manera ha generado los recursos económicos necesarios para sacar adelante a sus hijos y su esposa. El cliente es un hombre pujante, activo, perseverante y trabajador, ha sacado adelante su negocio a pesar de las dificultades que se le presentan, pues la ubicación de su negocio es en una de las comunas con mayor índice de violencia de la ciudad y está expuesto a problemas de orden público y enfrentamientos entre bandas criminales del sector, además debe pagar una cuota a los diferentes grupos al margen de la ley, para que le permitan tener su negocio abierto al público; aún así ha sabido sobrellevar este tipo de situación y ha ido progresando. El crédito que solicita es para invertirlo en la compra de una vitrina y surtido al por mayor (lácteos, granos, huevos, carne, galletería, confitería, gaseosas, entre otros), con esto podrá dar una mejor imagen al establecimiento permitiendo atraer más clientela, además tendrá más variedad de productos disponibles para ofrecer, esto se verá reflejado en el incremento de sus ventas y sus ingresos, con los cuales podrá continuar llevando el sustento a su familia. John sueña con fortalecer y hacer crecer su negocio, para que en un futuro cercano le permita adquirir un local propio en el que pueda brindar oportunidades de empleo y mejorar la estabilidad económica para dar a 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

  • $11,100
    Average annual income
  • 482
    View loans »
    Colombia Loans Fundraising
  • $14,960,825
    Funds lent in using Kiva
  • 1,897.6
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $2,125 helped Jhon Jaime to buy a display case and wholesale products (dairy, grains, eggs, meat, cookies, pastries, sodas, and other items).
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 24, 2013
Listed
Sep 23, 2013
Currency Exchange Loss:
Covered
Expired:
Oct 23, 2013