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Ignacio José
Ignacio is a 53-year-old man who is in a civil union with his spouse and has a 16-year-old daughter. All of his childhood, he lived on farms, where he learned agricultural work. However, 20 years ago due to violence issues and lack of job opportunities, he decided to move to another municipality in search of new opportunities to move forward. He made a living as a street vendor, offering different products such as plantains, yams, yuca and watermelon, among others. With this, he has generated income to support his family daily.

Ignacio is a hard-worker and is responsible. In spite of economic hardships, he always fights to move his family forward. He therefore is asking for a second round of loans. He wishes to invest in purchasing a larger quantity of products (plantains, yuca, watermelon, yams, potatoes, mangos) and take advantage of the discounts. He will be able to offer a wider variety to his customers and generate more income. He wishes to fulfill his dream of providing his daughter a higher education so that she can be a great professional and also improve the quality of life for all the family.
View original language description ↓
Ignacio es un hombre de 53 años de edad, vive en unión libre con su pareja y tiene una hija de 16 años. Toda su infancia la vivió en el campo, donde aprendió las labores agrícolas, pero hace 20 años, por cuestiones de violencia y falta de oportunidades de empleo, decidió trasladarse para otro municipio, en busca de nuevas oportunidades para salir adelante. Se dedicó a la venta ambulante, ofreciendo diversos productos como plátano, ñame, yuca, sandía entre otros, con esto ha generado ingresos para el sustento diario de su familia. Ignacio es trabajador y responsable, a pesar de las dificultades económicas siempre lucha para sacar a su familia adelante, por eso solicita el segundo ciclo de crédito, que desea invertir en compra de surtido al por mayor (plátano, yuca, sandía, ñame, papa, mango) y aprovechar los descuentos que le hacen, para poder ofrecer más variedad a sus clientes y generar más ingresos, ya que desea cumplir el sueño de brindarle educación superior a su hija para que sea una gran profesional y así mejorar la calidad de vida de toda la familia.

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.

About Colombia

  • $11,100
    Average annual income
  • 399
    View loans »
    Colombia Loans Fundraising
  • $18,296,125
    Funds lent in using Kiva
  • 1,875.4
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,600 helped Ignacio José to buy a larger quantity of products (plantains, yuca, watermelon, yams, potato and mango).
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 18, 2013
Listed
Jul 22, 2013
Currency Exchange Loss:
Covered
Ended:
Nov 17, 2015