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John Jairo
John, 41, is married and has three children, for whom he works hard to support. Since childhood, he has has an affinity for making handicrafts. He collected things that others had thrown away and made them into useful, decorative objects to sell to family and acquaintances. With time, he became responsible for supporting his family, as he had a son at a young age. So he looked for a job that would provide steady income to pay for his family's needs. This meant that he could only work as an artist in his spare time; however, he never lost interest in the profession. He says that it is better to make art from discarded materials and not contaminate the environment; moreover, he can earn additional income for his family by doing this.

He has applied for a loan to buy an industrial drill, a hand press, a small bending machine, a welding machine, and some items from a scrap yard. He will be able to make better use of his time and improve his merchandise, specifically for the December holiday season when demand picks up. John dreams of making this work his main source of income, setting up the business, and being able to offer jobs to family members so that he can be totally independent and slowly raise the standard of living of those he loves.
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John, a sus 41 años de edad, es casado y padre de 3 hijos a los cuales ha sacado adelante con gran esfuerzo. Desde que era niño ha sentido un gusto especial por las artesanías y las manualidades, se dedicaba a recoger objetos que las personas desechaban y los convertía en un artículo útil y decorativo y, luego los vendía a sus familiares y conocidos. Con el paso del tiempo tuvo que hacerse responsable de su familia, pues tuvo su primer hijo muy joven, por lo que se dedicó a buscar empleo para generar recursos económicos fijos que le permitieran sustentar las necesidades de su familia. Esto lo obligó a dedicarle sólo los tiempos libres, a su labor como artesano; sin embargo no pierde el interés en la actividad, pues manifiesta que es mejor convertir algunos desechos en arte y no contaminar más la tierra, además esto le genera un ingreso adicional para su familia. Por ello solicita el apoyo del crédito con el que comprará un taladro industrial, una prensadora manual, una máquina dobladora pequeña, un soldador y comprar algunos artículos en una chatarrería; con lo que podrá optimizar el tiempo de producción y mejorar sus productos, especialmente para la temporada de diciembre, pues en esta época aumenta su demanda. John sueña con hacer de esta actividad su principal fuente de ingresos, formalizar su negocio y poder generar oportunidades de empleo dentro de su núcleo familiar y así ser totalmente independiente y mejorar poco a poco la calidad de vida de los que ama.

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
  • 507
    View loans »
    Colombia Loans Fundraising
  • $15,250,425
    Funds lent in using Kiva
  • 1,932.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped John Jairo to buy an industrial drill, a hand press, a small bending machine, a welding machine, and some items from a scrap yard.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 12, 2013
Listed
Dec 11, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2014