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Fernando De Jesús
Fernando, 50 years old, has been working in the surveillance industry for more than 10 years, but because it is a very poorly paid activity he wants to become trained in the craft of cheese making and fretwork with the idea of starting his own business and improving his financial condition. He dreams of owning his own home and giving his family stability.
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Fernando de 50 años de edad, se dedica al oficio de vigilancia desde hace más de 10 años; pero debido a que es una actividad muy mal remunerada desea capacitarse en la elaboración de quesos y calados con el propósito de crear su propia empresa y mejorar su condición económica.
Sueña con tener una vivienda propia y brindarle a su familia una estabilidad.

Additional Information

More information about this loan

This loan is part of Interactuar's effort to being innovative and high-quality non-financial products to more borrowers.

In addition to credit, the organization provides training in business management, gastronomy, tourism, marketing, design, sales, and other areas. It also advises borrowers on their new and existing businesses, and its food laboratory helps farmers increase their crop yields. Together, all of these services help borrowers gain new skills and optimize their 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
  • 507
    View loans »
    Colombia Loans Fundraising
  • $15,250,425
    Funds lent in using Kiva
  • 1,829.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $200 helped Fernando De Jesús to pay for training in the making of cheese and fretwork.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 29, 2013
Listed
May 15, 2013
Currency Exchange Loss:
Covered
Ended:
Nov 18, 2013