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José Fernando
José, 21, is a dynamic young entrepreneur who has his own business, a grocery store, which he started a year ago. His parents were friends of the owners who rented out the property because they were leaving the country. José convinced his parents to rent the house so he could set up a store and earn enough income to support the household economy and pay for university studies. He works every day from 8:00 a.m. to 9:30 p.m. During class time his mother or younger brother help at the store attending to customers.

José believes this business is a good source of income and very profitable because families need to buy things on a daily basis. He is requesting a loan to improve the store (fixing the outdoor awning and a bench) and to buy wholesale merchandise (cakes, dairy products, eggs, grains, cookies, personal hygiene products, etc.). This will give his business a better image and allow him to have on hand different brands of products to satisfy customer demand. Sales and income will improve considerably.

José's determination to get ahead and continue working hard to strengthen his business and make it grow will allow him to turn it into a profitable mini-market where he can use his professsional knowledge. He wants to improve his family's lifestyle and finish his university degree.
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José es un joven dinámico y emprendedor, que a sus 21 años de edad se dedica a atender su propio negocio, una tienda de abarrotes que adquirió hace un año, cuando los padres de un amigo eran propietarios de este negocio y pusieron la casa en arriendo porque se iban del país, por lo que José convenció a sus padres para tomar esta casa y así él podría continuar con la tienda, de esta forma ha logrado generar los recursos suficientes para aportar a la economía de su hogar y para pagar sus estudios universitarios. Trabaja muy juicioso todos los días de la semana desde las 8:00 am hasta las 9:30 pm, pero en los horarios que tiene clases, su madre o su hermano menor le colaboran atendiendo a los clientes. Él ve en esta actividad una gran fuente de ingresos y un negocio muy rentable, pues es consciente de que los productos de la canasta familiar se venden a diario. Actualmente solicita el apoyo del crédito para realizar mejoras locativas (arreglar carpa exterior y una banca) y para comprar surtido al por mayor (mecato, lácteos, huevos, granos, galletería, productos de aseo, entre otros), de esta forma su negocio tendrá una mejor imagen y además podrá abastecerse de productos de diferentes marcas para satisfacer las necesidades de sus clientes, mejorando notablemente sus ventas y los ingresos que recibe de ellas. José con su espíritu de superación, desea seguir trabajando arduamente para sacar adelante su negocio, fortalecerlo y hacerlo crecer hasta convertirlo en un minimercado, que sea más rentable y que le permita ejercer sus profesión en su negocio; de esta manera desea mejorar la calidad de vida de la familia y terminar sus estudios universitarios.

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

  • $11,100
    Average annual income
  • 560
    View loans »
    Colombia Loans Fundraising
  • $14,903,600
    Funds lent in using Kiva
  • 1,880.8
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,075 helped José Fernando to make store improvements (fix outdoor awning and a bench) and to buy goods wholesale (cakes, dairy products, eggs, grains, cookies, personal hygiene products, etc.).
92% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 13, 2013
Listed
Oct 14, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014