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Jose Leonardo

Update on Jose Leonardo

José’s married and has three children who he’s always wanted to provide a good quality of life for. To generate household income to support his family, he has had a carpentry shop for some time since he decided to open his own business. He used to be employed in a carpentry shop and decided to open his own business that he’s managed to move forward with much effort and provide his family with a better quality of life.

Thanks to the good quality of the goods he produces he’s gotten very good orders and this has led to his household’s economic difficulties gradually diminish. Now that he has very good pending customer orders he does not have sufficient capital to respond to them so José is looking for a loan to buy raw materials to fill customer orders and continue generating income.

His dream is to move his shop forward and that it allows him to have a good quality of life for his family and better opportunities for economic progress. He also hopes that his three children will have the opportunity of enrolling in a better quality education and in future have access to the university.
View original language description ↓
Jose se encuentra casado y tiene 3 hijos a quienes siempre les ha querido brindar una buena calidad de vida para su hogar, y para generar los ingresos que requiere para el sostenimiento de su familia, tiene una carpintería desde hace un tiempo que decidió montar su propio negocio. Anteriormente trabajaba en una carpintería, pero debido a que sentía que no le pagaban lo necesario para poder sostener los gastos de su familia, decidió montar su propio negocio y con mucho esfuerzo ha logrado sacar adelante su propio negocio y ofrecer a su familia una mejor calidad de vida. Gracias a la buena calidad de sus productos ha venido teniendo muy buenos pedidos, y esto ha hecho que las dificultades económicas de su hogar se hayan ido superando poco a poco. Ahora que tiene muy buenos pedidos de sus clientes, pero no cuenta con el capital suficiente para poder responder, Jose busca un préstamo para comprar materias primas para fabricar los pedidos de sus clientes y poder seguir generando sus ingresos.

Su sueño es sacar este taller adelante y que este le permita tener una buena calidad de vida para su familia y mejores oportunidades económicas para progresar. Además, aspira a que sus 3 hijos tengan la oportunidad de ingresar a una educación de mejor calidad y en un futuro acceder a una educación universitaria.

Previous Loan Details

Jose is a person who is well known for his desire to work and provide for his family. He has been working as a furniture maker for approximately 30 years. This business makes him the income he needs to support his household. Jose used to work in a cabinet maker's workshop where he acquired the... More from Jose Leonardo's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Colombia

  • $11,100
    Average annual income
  • 305
    View loans »
    Colombia Loans Fundraising
  • $18,217,500
    Funds lent in using Kiva
  • 1,830.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $825 helped Jose Leonardo to buy raw materials.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jul 19, 2012
Sep 3, 2012
Currency Exchange Loss:
Aug 19, 2013