Check out some available loans that are similar to this one!
Raúl Alberto
Raúl is 56 years old and is a single dad to his 23-year-old son. When he lived in the Amazon region for 25 years, Raúl made a living operating various stores and billiard halls. Presently, he runs a café and bar where he sells a variety of products, including: soft drinks, liquors, hot drinks, snacks, etc. He started the café-bar a year and a half ago and business is going well, thanks to Raúl's hard work and the prime location of the store in a popular, well-traveled area. This business is Raúl's source of income for supporting his son and covering his costs of living.

With the support from this loan, Raúl plans to purchase merchandise in bulk to stock his café-bar, including liquors, coffee, soft drinks, snacks, etc. He also plans to make some improvements to the café, including repainting the walls and other areas. He hopes that this investment will give the business a fresh look and will increase the variety of products he sells so he can attract more customers. In turn, he hopes these changes will also lead to increased sales and income, allowing him to improve his quality of life and better provide for his son. Raúl is well aware that he needs to continue working hard in order to fulfill his goals of growing and strengthening his business and increasing its notoriety in the region.
View original language description ↓
Raúl tiene 56 años de edad, padre soltero de 1 hijo de 23 años. Se ha dedicado a trabajar como comerciante independiente, pues ha tenido tiendas y billares en el Amazonas, donde vivió durante 25 años. Actualmente tiene un negocio de café bar donde ofrece gaseosas, licores, mecato, bebidas calientes, entre otros, lo inició hace un año y medio y le ha dado buenos resultados, ya que está ubicado en una zona muy transitada en las noches; de esta forma ha generado los ingresos necesarios para sacar adelante a su hijo y para solventar las necesidades básicas de su vivienda. Se encuentra solicitando el crédito para invertir el dinero en la compra de surtido al por mayor (licores, café, mecato, gaseosas) y realizar mejoras locativas (pintar el negocio), de esta manera dará una nueva imagen al establecimiento que cambiará la percepción de los transeúntes, atrayendo más clientela y, además tendrá variedad de productos disponible para satisfacer los gustos de sus visitantes; dando como resultado un incremento en sus ventas y en los ingresos que recibe. Raúl es consciente que debe seguir trabajando arduamente, con esmero y dedicación para lograr cumplir el objetivo de seguir fortaleciendo su negocio y hacer que sea reconocido y más rentable, para que le permita disfrutar de una mejor calidad de vida y continuar velando por el bienestar de su hijo.

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.

Tags

About Colombia

  • $6,070
    Average annual income
  • 163
    View loans »
    Colombia Loans Fundraising
  • $13,194,000
    Funds lent in using Kiva
  • 1,895.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $650 helped Raúl Alberto to purchase merchandise to stock his business, including liquors, coffee, soft drinks, etc., and to make improvements to his business and repaint the walls.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 27, 2013
Listed
Sep 26, 2013
Currency Exchange Loss:
Covered
Ended:
Mar 19, 2015