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León Jaime
León is an older man who has worked all his life repairing old cars to later sell or put to work. He learned the mechanic's trade by working as a child at the side of his father. He intends to invest the loan in repairing two old vehicles that he now has and putting them to work carrying passengers and transporting items.

His dream is to have a number of vehicles to put to work and produce greater income, with which he could improve his standard of living.
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León es un adulto mayor, que ha dedicado toda su vida a la reparación de carros viejos, para luego venderlos o ponerlos a trabajar. Él aprendió el oficio de mecánico, trabajando desde niño al lado de su padre. Pretende invertir el crédito en la reparación de dos vehículos viejos que tiene actualmente y ponerlos a trabajar en la movilización de pasajeros y hacer trasteos.

Su sueño es tener varios vehículos para ponerlos a trabajar y producir mayores ingresos, con los que pueda mejorar su nivel de vida.

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
  • 558
    View loans »
    Colombia Loans Fundraising
  • $14,903,600
    Funds lent in using Kiva
  • 2,045.0
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $500 helped León Jaime to repair two old vehicles.
97% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 14, 2014
Listed
Mar 22, 2014
Currency Exchange Loss:
Possible
Ended:
Feb 20, 2015