Check out some available loans that are similar to this one!
Hugo De Jesús
Winter is a difficult time for Hugo. For the past few years, he has been selling food from a location in central Medellín. He sells to pedestrians traditional foods of the region. Hugo works day after day so that he can offer a better quality of life to his family and to his daughter.


In the future, Hugo hopes to move forward with his business and maintain it. He currently needs a loan to buy a stainless steel food cart.

View original language description ↓
El invierno es una de las dificultades que debe enfrentar Hugo, quien desde hace algunos años tienen un punto de venta de comida en el centro de Medellín, allí vende a los transeúntes algunos comestibles propios de la región y es así como trabaja día a día para ofrecerle a su familia y a su hija una mejor calidad de vida.

Hugo espera en el futuro seguir adelante con el negocio y mantenerlo en el tiempo. Actualmente necesita de un préstamo para comprar un carrito en acero inoxidable.


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

  • $6,070
    Average annual income
  • 540
    View loans »
    Colombia Loans Fundraising
  • $14,658,975
    Funds lent in using Kiva
  • 1,785.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $400 helped Hugo De Jesús to buy a stainless steel food cart.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 5, 2011
Listed
Sep 5, 2011
Currency Exchange Loss:
Covered
Ended:
Sep 15, 2012