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Joaquin Emilio
Several years ago, Joaquin worked in a cement company. There he had the opportunity to study construction in a very well recognized institution, and he decided to start working independently and dedicate himself completely to the art of construction, quitting his job at the company.

Today he is a very hardworking and prosperous man. He does a wide variety of projects for his clients and they recommend him greatly. He possesses knowledge of distinct areas, which makes him a multifaceted man.

He requests some economic assistance to buy a circular saw, a tool that will allow him to work more efficiently because he will be able to cut difficult materials in less time.
View original language description ↓
El señor Joaquín trabajo hace algunos años en una empresa de cementos, allí tuvo la oportunidad de estudias construcción en una institución muy reconocida y fue así como decidió independizarse y dedicarse en pleno al arte de la construcción renunciando a su trabajo en la empresa.
Hoy en día es un hombre trabajador y muy prospero, realiza trabajos muy variados y sus clientes lo recomiendan muy bien.
Posee conocimientos en distintas áreas, lo que lo hace un hombre multifacético.
Solicita una ayuda económica para la compra de una sierra circular, herramienta que le permitirá trabajar mucho más eficientemente ya que podrá cortar los materiales difíciles en poco tiempo.

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
  • 569
    View loans »
    Colombia Loans Fundraising
  • $14,881,725
    Funds lent in using Kiva
  • 1,884.1
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,350 helped Joaquin Emilio to buy a circular saw.
81% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 31, 2014
Listed
Jul 6, 2014
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2015