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Ricaute De Jesús
Ricaute’s a father who has worked for several years smelting metals like copper and aluminum. He does this in his own workshop located in the western part of the city where he lives and where he’s become well-known doing this work. He’s managed to support his family consisting of his wife and three children this way. He strives for them unceasingly to provide them with a good education and well-being.

He’s asking for this loan at present to buy a metal grinder to reduce his production costs because he will be able to grind the copper and aluminum himself to then smelt it; he will no longer have to pay for this service and he will also improve his working conditions thus significantly improving his income to meet family needs and continue making progress to reach his greatest dream which is to prove his business’ worth and to acquire more mills to be able to increase production. In this way, Ricaute will be able to generate favorable economic stability which, according to him, is indispensable so that things at home will function correctly succeeding in providing an excellent education for his children, improved well-being and quality of life.
View original language description ↓
Ricaute es un padre de familia que desde hace varios años se dedica a la actividad de fundición de metales como cobre y aluminio, actividad que realiza desde su propio taller ubicado en el occidente de la ciudad donde reside y donde se ha dado a conocer realizando su labor. De esta forma ha logrado sacar adelante a su familia, conformada por su esposa y 3 hijos, por los cuales lucha incansablemente para darles una buena educación y bienestar. Actualmente solicita el crédito para comprar un molino de metales, con el que podrá reducir los costos de producción, ya que él mismo podrá moler el cobre y el aluminio para luego fundirlo y no tendrá que seguir pagando por este servicio, además mejorará las condiciones de trabajo; así mejorará notablemente la entrada de recursos económicos para solventar las necesidades de su familia y podrá seguir avanzando para llegar a cumplir su mayor deseo que es acreditar bien su negocio y adquirir más molinos para poder aumentar la producción. De esta forma Ricaute tendrá la oportunidad de generar una estabilidad económica favorable, que según él, es indispensable para que las cosas del hogar funcionen correctamente, logrando que sus hijos tengan una excelente educación, un mejor bienestar y calidad 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.


About Colombia

  • $11,100
    Average annual income
  • 279
    View loans »
    Colombia Loans Fundraising
  • $16,895,775
    Funds lent in using Kiva
  • 1,880.9
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,600 helped Ricaute De Jesús to buy a metal grinder.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 19, 2013
Oct 22, 2013
Currency Exchange Loss:
Oct 17, 2014