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Oscar De Jesús
Oscar is 61 years old and has great responsibilities as a father. He worked his whole life as an employee until after many years he decided to go out on his own and open a motorcycle repair shop. He hired two mechanics, creating two jobs and helping diminish the unemployment rate. He is seeing good results from his shop and has undertaken to open a warehouse that distributes all the parts and accessories concerning motorcycles. Oscar's dream is to be able to better organize the two so he can provide an improved presentation and more comfort to the customers and visitors who stop by daily. With the loan, he plans to purchase the necessary materials to make the repairs as well as to stock his warehouse with a variety of products to meet the needs of his customers. The fruit of these two activities has given Oscar a better income, which has been reflected in the standard of living for he and his family.
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Oscar con 61 años, y grandes responsabilidades como padre, toda su vida trabajo como asalariado, después de muchos años decidió independizarse y montó un taller de motos, contrató a dos mecánicos generando con esto dos empleos y aportando a disminuir la taza de desempleos actual, viendo el buen resultado del taller se dio a la tarea de emprender un almacén donde distribuye todo los repuestos y accesorios concerniente a las motos. El sueño de Oscar es poder organizar locativamente los dos locales para darles mejor presentación y confort para los clientes y visitantes que a diario allí se atienden, con el crédito comprará los materiales necesarios para las reparaciones y también surtirá el almacén con diversidad de productos, satisfaciendo las necesidades de sus clientes. El fruto de estas dos actividades le ha dado a Oscar unos mayores ingresos y por lo tanto se ve reflejado en el nivel de vida para él y toda su familia.

Additional Information

More information about this loan

By supporting this loan, you're helping a borrower launch a new business!

This loan is designed for an entrepreneur who needs working capital to start a brand new business. Along with the loan, Kiva's field partner Interactuar provides counseling, training courses, and other financial resources to help new, riskier entrepreneurs set up young businesses.

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

  • $6,070
    Average annual income
  • 137
    View loans »
    Colombia Loans Fundraising
  • $12,811,350
    Funds lent in using Kiva
  • 2,014.0
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,000 helped Oscar De Jesús to purchase necessary materials to make repairs as well as stock his warehouse with a variety of products.
36% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 18, 2014
Listed
Mar 27, 2014
Currency Exchange Loss:
Possible