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Rubén Darío
Ruben is 57 years old and is a mobile merchant who has been selling different size plastic bags and some items that his nephew sends him from the city for many years. His main customers are businesses in town and he is able to generate the income he needs to earn a living. He is an active and hardworking man and says that his age does not impede him. He lives alone and never married. He is asking for his third loan so he can buy merchandise in quantity (plastic bags of different sizes) and be able to satisfy his customer demand. This will help improve the income he gets from each sale. Ruben only wants to be able to continue his work with enthusiasm and dedication so that he can have a more tranquil future with better living conditions.
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Rubén, a sus 57 años de edad, se dedica al comercio ambulante desde hace muchos años, vendiendo bolsas plásticas de diferentes tamaños y alguna mercancía que le envía un sobrino desde la ciudad, sus principales clientes son los establecimientos de comercio del municipio donde reside, de esta manera genera los recursos económicos suficientes para subsistir. Es un señor activo y trabajador, manifiesta que su edad no le impide seguir luchando para sobrevivir, pues vive sólo porque nunca se casó. Se motiva a solicitar su tercer ciclo de crédito con el que desea comprar mercancía al por mayor (bolsas plásticas de diferentes tamaños) de esta manera tendrá su inventario abastecido para satisfacer la demanda de sus clientes, lo que le ayuda a mejorar los ingresos que recibe por cada venta. Rubén sólo desea poder seguir realizando su labor con empeño y dedicación para que en un futuro cercano tenga la oportunidad de disfrutar una vejez más tranquila y con mejores condiciones de vida.

Additional Information

More information about this loan


By funding this loan, you are promoting entrepreneurship in remote regions, including areas recovering from guerilla warfare in Colombia, and helping to reverse the rural exodus which occurred in the past decades when a the rural population fled their countryside homes for the safer cities.

This Kiva loan was created by Kiva's field partner Interactuar specifically for Kiva funding, in an effort to reach more borrowers in rural areas. Most of the Interactuar's lending operations are focused in urban parts of Medellin. But this loan product is designed to provide working capital to riskier agricultural businesses who have been traditionally excluded from the finance sector.

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
  • 480
    View loans »
    Colombia Loans Fundraising
  • $15,254,800
    Funds lent in using Kiva
  • 1,917.3
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $525 helped Rubén Darío to buy inventory.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 17, 2013
Listed
Nov 24, 2013
Currency Exchange Loss:
Possible
Ended:
May 22, 2014