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Luis Alfonso
Luis Alfonso has worked in the shoe business for 38 years. Eight years ago, he decided to set up his own shoe repair shop at home. He works every day with the help of a relative. Luis Alfonso has now made this business a source of income for his family, which allows him to pay for the education of his two children.

He is requesting a loan so that he can buy supplies such as dyes, synthetics, thread, and glue. Luis Alfonso will also pay for structural improvements so that his shop will have a better appearance. He dreams of designing and producing shoes on a large scale, but he is aware that he does not have the necessary funds. For this reason, he will start saving so that he can make this dream a reality.

View original language description ↓
Luis Alfonso, labora desde hace 38 años en el sector del calzado y desde hace ocho años decidió montar su propio negocio en su vivienda, dedicado a al reparación de zapatos. Labora diariamente en conjunto con un familiar. Actividad que se ha convertido en la fuente de ingresos para su familia y le ha permitido garantizarles educación a sus dos hijos.
Se encuentra solicitando un crédito para la compra de insumos como tintas, sintéticos, hilos, pega y mejoras locativas para la proyección de una mejor imagen.
Sueña con diseñar y producir calzado a gran escala pero es conciente que no cuenta el dinero necesario, por lo cual comenzará a ahorrar para hacer realidad su deseo.

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
  • 415
    View loans »
    Colombia Loans Fundraising
  • $16,314,875
    Funds lent in using Kiva
  • 1,819.1
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $825 helped Luis Alfonso to buy dyes, synthetics, thread, glue and to pay for structural improvements to his shop.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Mar 27, 2013
Apr 14, 2013
Currency Exchange Loss:
Nov 17, 2014