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Fredy Alejandro
Fredy, 20, is a young man seeking better life opportunities for him and his family which is why he wants to train as a baker due to the high demand in this sector. He’s liked gastronomy his whole life but because of his low income hasn’t been able to make his dreams reality. Today, he hopes to turn his wish into reality and start his life project.
View original language description ↓
Fredy de 20 años de edad, es un joven que se encuentra en búsqueda de mejores oportunidades de vida para él y su familia. Por lo cual desea capacitarse en panificación debido a la alta demanda que presenta este sector.
Toda su vida le ha gustado la gastronomía, pero debido a sus bajos ingresos no ha sido posible materializar sus sueños.
Hoy espera convertir su deseo en realidad e iniciar con su proyecto de vida.

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

  • $6,070
    Average annual income
  • 268
    View loans »
    Colombia Loans Fundraising
  • $13,479,900
    Funds lent in using Kiva
  • 1,887.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $200 helped Fredy Alejandro to pay for bakery courses.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 27, 2013
Listed
Jun 21, 2013
Currency Exchange Loss:
Covered
Ended:
Nov 17, 2014