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Cristian is a talented young man who has realized that his talent provides an opportunity to generate income and help pay for household expenses. Cristian plays various instruments and performs concerts for his customers. Thanks to the good service he provides, Cristian is recognized in his town and this has enabled him to attract many customers and have good sales. The main difficulty he faces is the large amount of competition in his town. For this reason he is studying to develop his abilities and provide better service. Since he is not from a family with significant financial resources, he has to rent speakers for his concerts. Cristian would like a loan to be able to purchase professional speakers, so that he can offer high quality service to his customers. He hopes that he will then be able to manage his money better, because he won't have to rent speakers every time he has a concert. His dreams are to be recognized for his work and to be able to provide his parents with a better quality of life.
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Cristian es un joven talentoso que ha visto en su talento una oportunidad de generar ingresos para contribuir con el sostenimiento de los gastos de su hogar. Cristian toca diversos instrumentos y ofrece el servicio de dar concierto a sus clientes. Gracias al buen servicio que ofrece, Cristian es reconocido en su municipio y esto le ha permitido captar un gran número de clientes y tener muy buenas ventas. La principal dificultad que tiene es la numerosa competencia con que se encuentra en su municipio, es por esto que se encuentra estudiando para desarrollar sus habilidades y prestar un mejor servicio. Debido a que Cristian no proviene de una familia con grandes capacidades económicas, debe alquilar los equipos de sonido para sus presentaciones. Es por esto que Cristian espera que un préstamo le brinde la oportunidad de acceder a la compra de equipos de sonido profesional, con los que pueda ofrecer un servicio de alta calidad a sus clientes.
Cristian espera que de esta manera pueda manejar mejor su dinero, pues ya no tendrá que estar alquilando los equipos de sonido cada que tiene una presentación. Cristian sueña con tener un alto reconocimiento y con poder ofrecer a sus padres una mejor calidad de vida.

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
  • 488
    View loans »
    Colombia Loans Fundraising
  • $15,254,800
    Funds lent in using Kiva
  • 1,792.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $900 helped Cristian to purchase professional speakers so that he can offer high quality service to his customers.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Feb 15, 2012
Mar 2, 2012
Currency Exchange Loss:
Sep 22, 2013