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John Esteban
John is 20 and is a hardworking young man who wants to give his mother and his siblings a better quality of life. He hopes to make this dream a reality by applying for a loan. His goal is to sell clothes for a living, which will give him the opportunity to have a stable job and thereby contribute to the household costs and attend higher education. He will invest the money in buying shoes, jeans and shirts. He hopes that with this investment he will be able to improve his economic situation and guarantee his family's stability.
View original language description ↓
John de 20 años, es un joven emprendedor que desea mejorar la calidad de vida de su madre y hermanos, por lo cual hoy tiene un sueño que espera hacer realidad con la solicitud de un crédito. Dedicarse al comercio de ropa, es hoy su gran reto, ya que tendrá la oportunidad de tener un trabajo estable que le permita colaborar con los gastos del hogar y acceder a la educación superior.
El crédito lo invertirá en la compra de calzado, jeans y camisas.
Espera que con dicha inversión mejore su condición económica y pueda garantizarle a su familia estabilidad.

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
  • 167
    View loans »
    Colombia Loans Fundraising
  • $12,834,025
    Funds lent in using Kiva
  • 1,899.4
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $425 helped John Esteban to buy shoes, jeans and shirts.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 8, 2013
Listed
Jun 10, 2013
Currency Exchange Loss:
Covered
Ended:
Jun 17, 2014