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Luis Felipe
Luis Felipe, 21, is a graphic design student and for three years he has been residing in the city of Medellín. He must work in order to pay for his studies and living expenses. Due to the time that he invests in his studies, his work schedule is very limited, thus access to the work force has been difficult.

Now he wants to be independent and start his business, which is the reason for requesting a loan. He will invest in the purchase of Amway products which he will sell among his neighbours and university classmates.

He dreams of finishing his studies and working, placing his knowledge at the service of the community.
View original language description ↓
Luis Felipe de 21 años de edad, es estudiante de diseño gráfico y desde hace tres años reside en la ciudad de Medellín. Con el fin de subsistir y pagar su carrera debe trabajar.
Debido al tiempo que invierte en sus estudios, el horario para laborar es muy limitado por lo cual, el acceso al mundo laboral le ha sido difícil. Hoy desea ser independiente e iniciar con su proyecto de negocio, razón por la que se encuentra solicitando un crédito que invertirá en la compra de productos amway los cuales comercializará entre sus vecinos y compañeros de la universidad.
Sueña con terminar su carrera y ejercer su profesión, colocando su conocimiento al servicio de la comunidad.

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

  • $6,070
    Average annual income
  • 285
    View loans »
    Colombia Loans Fundraising
  • $13,826,450
    Funds lent in using Kiva
  • 1,879.7
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Luis Felipe to purchase Amway products at wholesale.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 29, 2013
Listed
May 28, 2013
Currency Exchange Loss:
Covered
Ended:
Mar 19, 2014