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Oscar Alonso
Oscar learned to repair domestic appliances when he was very young since his family worked in the trade and his father was able to support them through his work.

Oscar wants to expand his business so he can afford to pay for a college education for his children. To do this he must stock repair parts for every type of appliance so he can offer a quick repair service to his customers.
View original language description ↓
Oscar aprendió a reparar electrodomésticos desde muy joven ya que su familia se ha dedicado a esta labor y es así como su padre pudo sacarlos adelante.

El señor Oscar quiere ampliar su negocio para así poder continuar pagándole a sus hijos los estudios universitarios y para esto necesita mantener repuestos para todo tipo de electrodomésticos y así poder ofrecerle mayor rapidez a sus clientes en la reparación de los mismos.

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
  • 518
    View loans »
    Colombia Loans Fundraising
  • $14,939,450
    Funds lent in using Kiva
  • 1,760.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,150 helped Oscar Alonso to buy repair parts.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 18, 2011
Listed
Aug 16, 2011
Currency Exchange Loss:
Covered
Ended:
Oct 20, 2013