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Juan Rafael
Juan, 22, is certain that cooking is the career he wants to practice for the rest of his life, so he seeks out any opportunity to realize his dream. He knows he has no money, but this presents no obstacle for him. He's certain that desire is the main element for reaching his goal.

Juan's requesting a loan to pay for training in making bread and starting out in the working world. He'll make payments to repay the loan.

He dreams of going to the university and graduating as a great chef of haute cuisine and being known nationally and internationally.
View original language description ↓
Juan a sus 22 años de edad, tiene claro que la gastronomía es la carrera que desea ejercer el resto de su vida, por lo cual busca cualquier oportunidad para alcanzar su sueño. Sabe que no tiene dinero, pero este no es un obstáculo para él. Asegura que las ganas son el principal elemento para llegar a la meta. Con el fin de pagar la capacitación en la elaboración de panes, e iniciar en el mundo laboral, Juan se encuentra solicitando un crédito, el cual reembolsara por cuotas.
Sueña con ingresar a la universidad y graduarse como un gran chef de la alta cocina, dándose a conocer a nivel nacional e internacional.

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
  • 490
    View loans »
    Colombia Loans Fundraising
  • $15,259,900
    Funds lent in using Kiva
  • 1,906.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $200 helped Juan Rafael to pay for training in making bread.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 23, 2013
Listed
Jun 16, 2013
Currency Exchange Loss:
Covered
Ended:
Dec 19, 2013