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Diego Alejandro
Diego Alejandro, age 23, is a young man who is passionate about his work. He has taken on a great challenge with mechanics. He started working at the age of 15 in a small workshop, where he learned this job. Six months ago, he was able to open his own business with his family. One of his greatest dreams is to go to university and graduate with an engineering degree. He is saving up to start this life project.
He is currently requesting a loan for the purchase of patches, gauges, and hand tools. His goal is to improve the quality of his service. With this investment, he hopes to increase his income and pay for his studies.
View original language description ↓
Diego Alejandro de 23 años de edad, es un joven apasionado por su trabajo, asegura que la mecánica se convirtió en un gran reto para el. Comenzó a laborar desde los 15 años es un pequeño taller, allí aprendió de la actividad y desde hace seis meses logró montar en compañía con su familia su propio negocio. Uno de sus mayores sueños es ingresar a la universidad y graduarse como ingeniero, por lo cual se encuentra ahorrando para iniciar con su proyecto de vida.
En la actualidad se encuentra solicitando un crédito para la compra de parches, calibradores y herramientas de mano, con el fin de mejorar la calidad en el servicio. Espera que con dicha inversión pueda aumentar sus ingresos y pagar sus estudios.

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
  • 479
    View loans »
    Colombia Loans Fundraising
  • $15,254,800
    Funds lent in using Kiva
  • 1,842.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,650 helped Diego Alejandro to buy patches, gauges, and hand tools.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 17, 2013
Listed
Apr 25, 2013
Currency Exchange Loss:
Covered
Ended:
Aug 21, 2015