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Henry Alberto
Henry is a hard-working and strong person. He was born and raised into a very humble peasant family, who earned their living working the fields. Henry, as a result, spent much of his youth working in agriculture and raising animals. He was happy in his work until a group of people, living on the wrong side of the law, brought an end to peace in the town. Because of this, Henry and his family - now victims of the country's armed conflict - moved to the city, . In the city, Henry lived with a friend, who taught him how to make spare parts with rubber for motorcycles. With this knowledge, Henry worked for a business for eight months, during which time he strengthened his knowledge and gained more experience. Henry worked at the business from 6am until 1.30pm and, as an alternative job, started his own business doing the same work. He did this in order to earn more to bring up and support his only son, who is eight years old.

This loan will be used to maintain equipment (improve the lathe by adding an axle and mandrel), to buy supplies (rubber tyres, packing bags) and to pay for leafleting. This will give Henry more drive to continue with his business and the leaflet will bring more customers. Sales and income will therefore increase.

Henry's aim to expand his business, but in premises separate from his house. His business would then be easier to access for the public and he will be better known in the market. His living conditions will improve then and Henry will be more able to support his young son.
View original language description ↓
Henry se ha caracterizado por ser un hombre trabajador y pujante; nació y se crió en una familia campesina muy humilde que se ganaban la vida trabajando el campo, por lo que desde muy joven se dedicó a la agricultura y a la cría de animales, vivía feliz realizando sus labores hasta el momento en el que llegó un grupo al margen de la ley y acabó con la paz del municipio, razón por la que trasladó para la ciudad con su familia, siendo una víctima más de la violencia del conflicto armado. En la ciudad se hospedó con un amigo quien le enseñó el oficio de fabricar repuestos para moto en caucho, con los conocimientos adquiridos se empleó en una empresa en la que ha trabajado por 8 meses, tiempo que le ha servido para adquirir más experiencia y perfeccionar sus conocimientos; allí labora de 6 am a 1:30 pm y, de manera alterna decidió montar un taller en el que se dedica a la misma actividad de forma independiente, con el fin de complementar los ingresos para dar educación y sustento diario a su único hijo de 8 años de edad.
El crédito será invertido en el mantenimiento de su maquinaria (mejorar el torno, añadir eje y mandril), comprará insumos (llantas de caucho, bolsas para empaque) y pagará para sacar volantes publicitarios; esto le dará un impulso para seguir con su negocio y se dará a conocer permitiendo la llegada de nuevos clientes, así mejorará sus ventas y el nivel de ingresos que recibe.
Henry tiene como propósito ampliar su negocio pero en un local comercial independiente de su vivienda, en el que pueda estar más asequible al público y así lograr un reconocimiento en el mercado y un mejoramiento en sus condiciones de vida, facilitando el sustento de su pequeño hijo.

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.

Tags

About Colombia

  • $11,100
    Average annual income
  • 490
    View loans »
    Colombia Loans Fundraising
  • $14,958,950
    Funds lent in using Kiva
  • 1,926.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,100 helped Henry Alberto to maintain equipment (improve the lathe by adding an axle and mandrel), to buy supplies (rubber tyres, packing bags) and to pay for leafleting.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 16, 2013
Listed
Jan 14, 2014
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2014