Check out other loans that are currently fundraising!
Frayner Antonio
Five years ago Frayner started a small sewing business with the help of his wife. Together they dream of providing a better future to their 5-year old son, and each day they work hard to make their initiative a success. In order to grow their business and increase production they need a quantity of wholesale materials, but have not had the capital to buy them. For this reason they seek this loan to increase sales and production and generate increased revenues to provide for their son an dincrease their quality of life.
View original language description ↓
Desde hace 5 años Frayner tiene una microempresa de confección donde trabaja en compañía de su esposa, júntos sueñan con brindarle un mejor futuro a su hijo de 5 años, día a día se levantan con gran motivación para sacar su negocio adelante.

Actualmente luchan para lograr un progreso notable en las utilidades del negocio, y para ello deben comprar materia prima en mayor cantidad como, hilos, telas, accesorios, y otros insumos necesarios para la confección, así agilizarán los procesos y se aumentará la producción, sin embargo no cuentan con el capital necesario para la compra de dichos insumos, por lo que solicita un crédito con el cual comprar materia prima suficiente para aumentar la capacidad de respuesta al cliente, mejorar las ventas y generar mas ingresos, así su calidad de vida mejorará y el futuro de su hijo cada vez será más prometedor.

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
  • 527
    View loans »
    Colombia Loans Fundraising
  • $14,661,300
    Funds lent in using Kiva
  • 1,900.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Frayner Antonio to purchase sewing thread, cloth, and other accessories for her sewing business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 6, 2011
Listed
Oct 19, 2011
Currency Exchange Loss:
Covered
Ended:
Dec 15, 2012