Check out some available loans that are similar to this one!
Nelson Emilio
Nelson, who is 41 years old, is the father of a 7-year-old boy and lives in a common law marriage with his partner. Nineteen years ago, he had to move to the city because he was a victim of forced displacement due to the violence that occurred in the village where he had been living. He had to leave behind everything that he had built, including his farm and coffee crops, and start over from nothing.

He began working in real property, making investments for which he earned a commission, but now he would like to start his own business and generate income for himself. His project consists of establishing a store selling miscellaneous goods, which will offer a variety of products like paper goods, jewelry, cleaning products, and other things. He already has a property located on a corner and he has been researching possible suppliers.

Nelson is a thriving entrepreneur who has vision and works towards achieving his goals. He request the support of this loan to purchase merchandise in bulk (pens, notebooks, cosmetics, cleaning products, etc.) and 2 display cabinets on which to store his products. This way, he will be able to begin his business project, which he hopes will generate the income necessary to provide his family with the basic necessities, bring his son forward in life, and provide a better quality of life and well-being to his immediate family in the near future.
View original language description ↓
Nelson, con 41 años de edad, es padre de un hijo de 7 años y vive en unión libre con su pareja sentimental. Hace 19 años tuvo que radicarse en la ciudad, víctima del desplazamiento forzado por la violencia que se presentó en el pueblo donde vivía, dejando atrás todo lo que había construido, su finca y sus cultivos de café, viéndose obligado a comenzar desde cero. Comenzó a trabajar en propiedad raíz, generando inversiones por las cuales recibía comisión, pero ahora desea iniciar su propio negocio y generar ingresos por cuenta propia. Su proyecto consiste en montar un almacén de remates o miscelánea donde pueda ofrecer diversidad de productos de papelería, accesorios de bisutería, artículos de aseo entre otros, para esto ya tiene el local ubicado en una esquina y ha ido investigando a los que serían sus posibles proveedores. El cliente es pujante, emprendedor, tiene visión y se proyecta hacia el cumplimiento de sus metas. Solicita el apoyo del crédito para comprar surtido al por mayor (lapiceros, cuadernos, cosméticos, artículos de aseo, entre otros) y 2 vitrinas para almacenar sus productos; de esta manera podrá dar inicio a su proyecto de negocio, con el cual espera generar los ingresos necesarios para solventar las necesidades básicas de su familia, sacar adelante su hijo y en un futuro cercano poder brindar mejor calidad de vida y bienestar a todos los integrantes de su núcleo familiar.

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.

Tags

About Colombia

  • $6,070
    Average annual income
  • 288
    View loans »
    Colombia Loans Fundraising
  • $13,892,025
    Funds lent in using Kiva
  • 1,890.4
    Colombia Pesos (COP) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $3,175 helped Nelson Emilio to buy merchandise in bulk (pens, notebooks, cosmetics, cleaning products, etc.) and 2 display cabinets on which to store his products.
72% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 27, 2013
Listed
Sep 25, 2013
Currency Exchange Loss:
Covered