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Ariel
Ariel, who is 50 years old, is married and the father of two children whom he has taken care of with sacrifice and dedication. During the last years of his employment, he worked for four years at a nationally-known producer of dairy products as a deliveryman. However, at that point they required that he replace his vehicle to continue working. Since he didn't have the resources to do it, he had to resign from the company. Soon after, he sold his truck; with the money he received and the little bit of on-the-job knowledge he had acquired as a driver, he opened his own auto mechanic's shop. For the seven years that he has been running this business, he has managed to generate the income he needs to pay for the basic needs of his household.

Currently, he is requesting the support of a loan; he hopes to buy work tools, a drill, and assorted replacement parts at wholesale (spark plugs, lights, rearview mirrors, axles, brakes, and other parts) and to pay off some outstanding debts. This will allow him to replace the tools that have gotten lost and improve the service he provides. With the necessary supplies and tools on hand, he will optimize his labor time and be able to serve a larger number of customers, thus generating additional income. Ariel hopes to keep working in that way to keep his business running, strengthen it, and grow it in order to generate greater income. With that extra income, he would like to open a parts shop alongside his workshop; this will supplement the money coming in to sustain his household and provide his family with a better quality of life.
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Ariel, a sus 50 años de edad, es casado y padre de dos hijos, a los cuales ha sacado adelante con esfuerzo y dedicación. Durante los últimos años de su vida productiva trabajó por cuatro años en una empresa productora de lácteos muy reconocida en todo el país, como transportador, pero luego le exigían cambiar el vehículo para poder continuar trabajando pero él no poseía los recursos para hacerlo, por lo que tuvo que retirarse de la empresa. Poco tiempo después vendió su camión y con el dinero que recibió inició su propio taller de mecánica automotriz con los pocos conocimientos que había adquirido de manera empírica mientras trabajaba como conductor; de esta forma ha logrado generar los ingresos necesarios para solventar las necesidades básicas de su hogar durante 7 años que lleva su negocio en funcionamiento. Actualmente solicita el apoyo del crédito con el que desea comprar herramientas de trabajo, un taladro y surtido de repuestos al por mayor (bujías, luces, retrovisores, ejes, frenos, entre otros) y cancelar algunas deudas que tiene pendientes; esto le permitirá reponer la herramientas que se le han perdido y así poder mejorar la prestación de su servicio, pues contará con los insumos y las herramientas necesarias, optimizando así el tiempo de labor y logrando atender mayor número de clientes; que le generarán un nivel más alto de ingresos. De esta manera, Ariel desea seguir trabajando para darle continuidad a su negocio, fortalecerlo más y hacerlo crecer para que le permita generar mejores ingresos con los que desea abrir paralelamente, un almacén de repuestos, que complementará la entrada de dinero para llevar el sustento a su hogar y brindar una mejor calidad de vida a su familia.

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
  • 520
    View loans »
    Colombia Loans Fundraising
  • $14,939,450
    Funds lent in using Kiva
  • 1,927.6
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,200 helped Ariel to buy work tools, a drill, and assorted replacement parts at wholesale (spark plugs, lights, rearview mirrors, axles, brakes, and other parts) and to pay off some outstanding debts.
66% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 29, 2013
Listed
Dec 2, 2013
Currency Exchange Loss:
Possible