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Laurentino
Laurentino is in a common law marriage and is the father of four young children. He is retired from the armed forces due to health reasons. A condition is his lower extremities do not allow him to move around very well, so he generates income to support the household by transporting steel. He want to restart his recycling activities that he used to do five years ago since it provided good results. He is asking for this loan to buy tools (press) and recyclable material (plastic, cardboard, and other things) so he can resell it once transformed. This will generate earnings that will improve his family’s quality of life. Laurentino wants his business to provide financial stability so he can provide better wellbeing for his wife and children. He wants to be able to provide jobs for others in the future.
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Laurentino vive en unión libre con su pareja sentimental y es padre de 4 hijos menores de edad, es pensionado de las fuerzas armadas debido a una condición física en sus miembros inferiores que no le permite moverse bien y, para generar ingresos trabaja prestando el servicio de transporte de acarreos y de esta manera genera los recursos suficientes para solventar algunas necesidades básicas de su hogar. Actualmente desea re iniciar la actividad de reciclador, pues hace 5 años la realizaba y le generaba buenos resultados, por esta razón se motiva a solicitar el crédito, con el que desea comprar herramientas de trabajo (prensadora) y material reciclable (plástico, cartón, materiales a base de pasta, entre otros) para revenderlo ya transformado y así generar ganancias para mejorar las condiciones de vida de su numerosa familia. Laurentino desea que su negocio le permita tener una estabilidad económica favorable para brindar mejor bienestar a sus hijos y a su esposa y, en un futuro sueña con brindar oportunidades laborales a otras personas.

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

  • $6,070
    Average annual income
  • 177
    View loans »
    Colombia Loans Fundraising
  • $13,171,600
    Funds lent in using Kiva
  • 1,929.5
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,600 helped Laurentino to buy tools and material.
51% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 25, 2013
Listed
Nov 29, 2013
Currency Exchange Loss:
Possible