Check out some available loans that are similar to this one!
Daniel Alonso
Daniel has been selling men’s and women’s clothing for six years, to his neighbors and co-workers. He used to sell appliances to earn an extra income. Now he needs to buy an assortment of clothing to be able to fill his customers’ end of the year orders. His dream is to have his own store and dedicate all of his tome to it.
View original language description ↓
El joven Daniel se dedica a la venta de ropa para dama y caballero desde hace 6 meses a sus compañeros de trabajo y vecinos; anteriormente el joven Daniel se dedicaba a vender electrodomésticos para obtener ingresos adicionales. Hoy día, el joven Daniel requiere de la compra de surtido de ropa para poder cumplirles a sus clientes con los pedidos de fin de año. El sueño del joven Daniel es tener su propio almacén y dedicarse tiempo completo a este.

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
  • 469
    View loans »
    Colombia Loans Fundraising
  • $15,266,950
    Funds lent in using Kiva
  • 1,937.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $425 helped Daniel Alonso to buy inventory.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 9, 2011
Listed
Dec 17, 2011
Currency Exchange Loss:
Covered
Ended:
Feb 15, 2013