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David Stiven
David, age 18, is a young visionary who has great hopes of getting ahead. His skills as a barber turned him into a prominent figure in his town. For this reason, he wants to start his own business and improve his family’s economic condition.


David currently works as a barber in the town of Copacabana, Colombia. However, his salary is not enough to cover his basic needs. He dreams of enrolling at the university and helping his mother with the household expenses. For this reason, he is requesting a loan so that he can pursue his business idea. The loan will be invested in a barber station, a barber chair, and equipment such as razor blades. These items are essential elements for launching his business.

View original language description ↓
David de 18 años de edad, es un joven visionario y con muchos deseos de salir adelante. Su habilidad para la barbería lo ha convertido en una eminencia en su localidad, por lo cual desea crear su propio negocio y mejorar la condición económica de su familia.
En la actualidad labora como barbero en el municipio de Copacabana, Colombia pero su salario no alcanza si no para cubrir sus necesidades básicas.
Sueña con ingresar a la universidad y ayudarle a su madre con los gastos del hogar, por lo cual se encuentra solicitando un crédito para iniciar con su idea de negocio, el crédito lo invertirá en la compra de un tocador, silla para corte y utensilios como cuchillas, los cuales son elementos fundamentales para iniciar con su actividad.

Additional Information

More information about this loan

By supporting this loan, you're helping a borrower launch a new business!

This loan is designed for an entrepreneur who needs working capital to start a brand new business. Along with the loan, Kiva's field partner Interactuar provides counseling, training courses, and other financial resources to help new, riskier entrepreneurs set up young businesses.

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
  • 501
    View loans »
    Colombia Loans Fundraising
  • $15,254,800
    Funds lent in using Kiva
  • 1,832.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $875 helped David Stiven to purchase a barber station, a barber chair, and equipment.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 22, 2013
Listed
May 10, 2013
Currency Exchange Loss:
Covered
Ended:
Oct 20, 2013