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Miguel Ángel
Miguel, 38, lives in the town of Marinilla, Antioquia. He has worked in different businesses in the area to support his immediate family, made up of his wife and his 9-year-old son.

With the goal of looking for a better quality of life, he's requesting a loan to set up a business selling staple goods because there's no general store in his area. He'll invest the loan in buying staple products.

He's grateful for his family, which is the most important thing to him and his biggest motivation to seek better opportunities.
View original language description ↓
Miguel tiene 38 años de edad y se encuentra radicado en el municipio de Marinilla, Antioquia. Ha laborado en diferentes negocios del sector con el fin de sostener su núcleo familiar compuesto por su esposa y su hijo de 9 años de edad. Con el fin de buscar una mejor calidad de vida, se encuentra solicitando un crédito para iniciar su proyecto de negocio el cual consistirá en la venta de productos de la canasta familiar, debido a la carencia de una tienda general en su sector.
Invertirá el crédito en la compra de productos de la canasta familiar.
Se siente agradecido por su familia, asegurando que es lo más importante y su mayor motivación para buscar mejores oportunidades.

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
  • 249
    View loans »
    Colombia Loans Fundraising
  • $13,479,900
    Funds lent in using Kiva
  • 1,906.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,050 helped Miguel Ángel to buy staple goods.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 30, 2013
Listed
Jun 23, 2013
Currency Exchange Loss:
Covered
Ended:
Jul 17, 2014