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Lincoln Arley
Lincoln is a hard-working 44-year-old man who works as an independent merchandiser. He has a small stall where he sells video-game movies. It's located in the city centre.

Lincoln originally started out by selling belts, but he decided to change products because of the stiff competition that he faced. He purchased a surplus of video-game movies, and then gradually started to introduce music videos and game consoles into his stock. He begins work at 9:00 am and works from Monday to Saturday. This is how he generates enough income to support his family, which consists of his spouse and their two children. In addition, with a lot of effort and organization, he was able to get enough money to buy some properties, which provide him with additional income by way of rental payments.

His drive and dedication have helped him to get ahead. For this reason he is always seeking out new alternatives to continue moving forward, such as the opportunity that the loan he is requesting will provide. He will use the loan to buy wholesale stock (video-game movies and music videos) in order to stock up for the impending holiday season, when demand for entertainment items goes up. Lincoln's earnings also increase significantly toward the end of the year, which benefits his whole family and gives him the opportunity to offer them better living conditions and well-being.
View original language description ↓
Lincoln es un hombre trabajador de 44 años de edad, que se dedica a trabajar como comerciante independiente, tiene un pequeño puesto de venta de películas para video juegos, ubicado en el centro de la ciudad. El negocio inicialmente era de venta de correas pero debido a la gran competencia que tenía, decidió cambiar de productos y por ello compró un saldo de películas de video juegos y poco a poco fue introduciendo videos musicales y consolas de juegos, trabaja de lunes a sábados desde las 9:00 am y de esta manera genera los recursos suficientes para llevar el sustento a su familia, conformada por su esposa y sus dos hijos, además con mucho esfuerzo y organización, él pudo completar el dinero para comprar unas propiedades de las cuales recibe un ingreso adicional por concepto de arriendo. Su empuje y dedicación le han permitido salir adelante y por eso siempre busca nuevas alternativas para seguir avanzando, como la que encontró en el crédito que solicita para comprar surtido al por mayor (películas de video juegos y videos musicales), con el fin de abastecerse para la temporada de fin de año que se aproxima, en la que se aumenta la demanda de estos artículos de entretenimiento, época en la que también sus ingresos aumentan notablemente, beneficiando a todo su núcleo familiar ya que tiene la oportunidad de ofrecerles mejores condiciones de vida y bienestar.

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.

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About Colombia

  • $11,100
    Average annual income
  • 484
    View loans »
    Colombia Loans Fundraising
  • $14,958,950
    Funds lent in using Kiva
  • 1,877.6
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,600 helped Lincoln Arley to buy stock wholesale (videogames and music videos).
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 23, 2013
Listed
Oct 23, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014