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Remigio
Remigio, 43, is father of two children aged 1 and 5 and is in a common law relationship with his wife. He’s had his own business for about 27 years, a cafeteria where he sells fried food, soft-drinks, coffee, mobile phone minutes, sweets, etc. He’s generated income this way to provide sustenance at home and to watch over his children’s well-being.

He’s currently going through a difficult patch because of some medical expenses he’s had to cover an illness that’s affecting him. However, his tenacity, drive and dedication is pushing him to overcome this situation and he sees in the loan a help to continue moving forward.

He wants to use the money to buy stock at wholesale (cookies and crackers, packaged snacks, soft-drinks, meat products, dairy products, coffee, etc.) and to repair the refrigerator that’s in poor condition. This will allow him to have a wider variety of goods on-hand to sell in order to meet customer demand leading to increased income earned from work.

This gives Remigio the strength to continue striving for his business and to make it more profitable so that it will generate favorable economic stability to provide his family with better living conditions and well-being.
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Remigio, a sus 43 años de edad, es padre de 2 hijos de 1 y 5 años, vive en unión libre con su pareja sentimental. Desde hace aproximadamente 27 años tiene su propio negocio, una cafetería donde ofrece alimentos fritos, gaseosas, café, minutos a celular, confitería, entre otros productos y, de esta manera ha generado los ingresos necesarios para llevar el sustento a su hogar y para velar por el bienestar de sus hijos. Actualmente está pasando por una difícil situación económica, debido a los gastos médicos que ha tenido que cubrir por una enfermedad que le afecta, sin embargo, con su tenacidad, empuje y dedicación está luchando para sobrepasar esta situación y ve en el crédito un apoyo para seguir adelante; con el dinero desea comprar surtido al por mayor (galletería, mecato, gaseosas, productos cárnicos, lácteos, café, entre otros) y arreglar el refrigerador que se encuentra en mal estado; esto le permitirá tener más variedad de productos disponible para la venta, con lo que podrá satisfacer las necesidades de los clientes y favorecer el incremento de los ingresos que recibe por su labor. Esto le da fuerzas a Remigio para seguir luchando por su negocio y hacer de éste un establecimiento más rentable, que le genere una estabilidad económica favorable para brindar a su familia 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
  • 487
    View loans »
    Colombia Loans Fundraising
  • $15,254,800
    Funds lent in using Kiva
  • 1,886.5
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,600 helped Remigio to buy stock merchandise and to repair the refrigerator.
90% repaid
Repayment Term
33 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 30, 2013
Listed
Nov 1, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014