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Diego Alexander
Determined and hardworking are the best ways to describe Diego, a young man who has been working hard since an early age to generate his own income and at the beginning to help his parents with household expenses. Now, Diego and his spouse have a 7-month-old daughter and he states that they are his motivation to work hard every day in order to move them forward.

Diego has spent a large part of his life running bars and discotheques so one day he finally decided to stop working for others and open his own business. He started it with very little capital but thanks to his sales has been gradually increasing it.

Diego’s bar has a few shortcomings because his furnishings have deteriorated due to use so he has to repair the sound system and lights. He also needs to buy merchandise that will allow his business to be better stocked for his customers. However, Diego does not have sufficient capital to make these purchases so he’s put his hope in a loan that will give him the opportunity to buy a sound amplifier, to buy lights and to buy a larger supply of liquor to be able to respond to customer demand.

Diego’s dream is that the business will provide him with higher income to be able to move his family ahead and provide his wife with a better quality of life and his months-old daughter with everything she needs and in the not too distant future enroll her in a quality education.
View original language description ↓
Decidido y trabajador son la mejor manera de caracterizar a Diego, un joven que desde muy temprana edad viene trabajando fuertemente con el ánimo de generar sus propios ingresos y en un principio colaborarle a sus padres con los gastos del hogar.
Ahora, Diego tiene una hija de 7 meses con su pareja, y manifiesta que son la motivación para que diariamente se esfuerce en su trabajo para sacarlas adelante.
Diego se ha dedicado gran parte de su vida a administrar bares y discotecas, por lo que un día decidió no trabajar más para nadie y montar su propio negocio. El negocio lo inició con muy bajo capital, pero ha ido aumentándolo gracias a sus buenas ventas.
El bar de Diego tiene algunos inconvenientes debido a que sus enseres se han ido deteriorando por el uso, por lo que debe reparar el sonido y las luces, además, requiere de la compra de mercancía que le permita tener su negocio mejor surtido para sus clientes. Sin embargo, Diego no cuenta con el capital suficiente para realizar estas compras, por lo que tiene la esperanza puesta en que un préstamo le brindará la oportunidad de acceder a la compra de un amplificador para el sonido, la compra de luces, y la compra de mayor surtido de licores para tener con qué responder a los pedidos de sus clientes.

Diego tiene el sueño de que su negocio le brinde mayores ingresos para poder sacar a su familia adelante. Poder brindarle a su esposa una mejor calidad de vida, y a su hija de meses brindarle todo lo que necesita, y en un futuro no muy lejano, poderla ingresar a una educación de calidad.

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
  • 266
    View loans »
    Colombia Loans Fundraising
  • $13,479,900
    Funds lent in using Kiva
  • 1,812.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Diego Alexander to buy a sound amplifier, lights and to increase his stock of liquor.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 19, 2012
Listed
Feb 2, 2012
Currency Exchange Loss:
Covered
Ended:
Feb 15, 2013