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Absalón
Absalón worked for a variety of companies in the city for several decades, which allowed him to earn his pension. With the money he decided to start his own business, a grocery store in the house where he lives. He took advantage of the fact that the area was very new and there was no competition. Thanks to the residents, he began to get very good results.

Absalón works every day of the week from 6 a.m. until 10 p.m., selling all types of staple products. In the 12 years he has been running the store, he has earned income to support his household necessities.

Currently he's requesting the support of a loan to buy a cooler as well as provisions wholesale (dairy products, meat products, snack food, cookies, soda, bread, and other products). This will allow him to replace his cooler, which is in bad shape, so he can better preserve the food and offer his customers products of excellent quality. He'll also have a wide variety of staple items that families need. This will result in an increase in his sales and his income because he continues to have steady customers despite the fact that competition has arrived in the area.

Absalón wants only to continue working as long as his body and God allow him to. He says he wants to leave a good inheritance for his family, and his current goal is to enjoy old age peacefully alongside his wife and his two children.
View original language description ↓
Absalón trabajó durante varias décadas como empleado en diferentes empresas de la ciudad; esto le permitió adquirir su pensión y, con el dinero decidió montar su propio negocio, una tienda de abarrotes que ubicó en la casa donde vive, aprovechando la ventaja de que la unidad residencial era muy nueva y no tenía competencia, por lo que comenzó a dar muy buenos resultados, gracias a la aceptación de los habitantes; allí trabaja todos los días de la semana, de 6:00 am a 10:00 pm y ofrece todo tipo de productos de la canasta familiar. De esta manera ha generado los ingresos para sustentar las necesidades de su hogar en los últimos 12 años, tiempo que lleva funcionando el establecimiento. Actualmente solicita el apoyo del crédito para invertirlo en la compra de un enfriador y surtido al por mayor (lácteos, cárnicos, mecato, galletería, gaseosas, pan, entre otros), esto le permitirá cambiar el enfriador que posee porque se encuentra en mal estado y así podrá conservar mejor los alimentos, para ofrecer a sus clientes productos con excelente calidad, además de gran variedad de artículos necesarios para la canasta familiar; esto se reflejará en el incremento de sus ventas y de los ingresos que éstas generan, pues, a pesar de la competencia que ha llegado al sector, él continua teniendo su clientela fija. Absalón sólo desea continuar con su labor hasta que su cuerpo y Dios lo permitan, manifiesta que desea dejarle un buen patrimonio a su familia y, por el momento su objetivo principal es disfrutar una vejez tranquila, al lado de su esposa y sus dos hijos.

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
  • 183
    View loans »
    Colombia Loans Fundraising
  • $13,171,600
    Funds lent in using Kiva
  • 1,884.5
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,600 helped Absalón to buy a cooler and supplies.
55% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 1, 2013
Listed
Nov 3, 2013
Currency Exchange Loss:
Possible