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Michael José
20-year-old Michael is a far-sighted young man. Following the death of his father, Michael decided to start working so that he could help his mother with the household expenses. He started out working at a supermarket on weekends, dividing his time between work and his studies.

Michael is noted for the order and discipline he demonstrates in everything he does. His drive and desire to make progress in life make him an incredible and admirable young man.

Michael is currently requesting a loan to invest in buying clothing to sell in his town so that he can improve his financial situation and guarantee his family a better quality of life.
View original language description ↓
Michel a sus 20 años de edad es un gran visionario. Después de la muerte de su padre, este joven decidió comenzar a trabajar para ayudarle a su madre con los gastos del hogar. Inició laborando en un supermercado los fines de semana, alternándolo con sus estudios.
Lo que mejor lo caracteriza es su orden y disciplina en todo lo que realiza, su empuje y ganas de salir adelante lo convierten en un ser prodigioso y admirable. En la actualidad se encuentra solicitando un crédito que invertirá en la compra de ropa para comercializar en su localidad, a fin de mejorar su condición económica y garantizarle a su familia 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
  • 356
    View loans »
    Colombia Loans Fundraising
  • $15,676,275
    Funds lent in using Kiva
  • 1,848.1
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,375 helped Michael José to buy clothing.
100% repaid
Repayment Term
22 months (Additional Information)
Repayment Schedule
Apr 9, 2013
Apr 19, 2013
Currency Exchange Loss:
Jan 17, 2015