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Danilo Hernando
At the age of 28, Danilo is a great entrepreneur. He started his business selling and repairing mobile phones six years ago. From this business he is able to support his father and his three-year-old daughter.

Danilo will use the requested loan to buy a display case to better exhibit his products to the public and will increase his stock of mobile phones and accessories, especially during this end of year season. In time, he hopes to open a new locale to generate increased income for his family.
View original language description ↓
A sus 28 años de edad Danilo es un gran emprendedor, el cual inicio su negocio de venta y reparación de celulares hace ya 6 años.

De dicha actividad genera el ingreso necesario para el sustento de su padre y de su hija de tan solo 3 años de edad.


Con el crédito solicitado, Danilo quiere comprar una vitrina para presentar de mejor manera sus productos al público, al igual que incrementar el numero de celulares y accesorios, sobre todo en esta temporada de fin de año.

El anhela con el tiempo poder abrir un nuevo local y generar mayores ingresos para su 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

  • $6,070
    Average annual income
  • 178
    View loans »
    Colombia Loans Fundraising
  • $13,171,600
    Funds lent in using Kiva
  • 1,860.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Danilo Hernando to buy mobile phones and a display case.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 14, 2011
Listed
Oct 31, 2011
Currency Exchange Loss:
Covered
Ended:
Mar 15, 2013