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Humberto
Humberto, age 62, is passionate about gastronomy. However, he has had a lot to do and has not been able to receive training in this area. Now he has decided to start a new project: to create a fast food business with his wife. He is requesting a loan which he will invest in fast food training in order to guarantee quality service and to obtain the necessary income to improve his family's quality of life.
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Humberto de 62 años de edad, es un apasionado por la gastronomía, pero debido a las muchas ocupaciones no había tenido la oportunidad de capacitarse en esta área. Hoy ha decidido emprender su proyecto de crear un negocio de comidas rápidas en conjunto con su esposa, por lo cual se encuentra solicitando un crédito que invertirá en la capacitación de cocina express para garantizarles a sus clientes un servicio de calidad y obtener los ingresos necesarios para mejorar la calidad de vida de su familia.

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
  • 474
    View loans »
    Colombia Loans Fundraising
  • $14,958,950
    Funds lent in using Kiva
  • 1,829.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $125 helped Humberto with fast food training expenses.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 26, 2013
Listed
May 16, 2013
Currency Exchange Loss:
Covered
Ended:
Oct 20, 2013