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José Aurelio
J José Aurelio is 20 years old, studies at “Escuela de Belleza Venus,” and works in two barbershops. He is looking for growth and independence which is why is is asking for a loan of 3100000 COP with the purpose of opening his own barbershop, since this amount will provide the respective setting of a barbershop (facility, furniture, equipment, and barbershop supplies.) In view of this, he expresses the desire and commitment he has, saying, “the loan will allow me to have my own business and generate income for my own livelihood and that of my family.”
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José Aurelio un joven de 20 años con estudios de belleza en la escuela Venus y actualmente trabajador en dos barberías, busca un crecimiento e independencia por el cual solicita un crédito de 3´100.000, con el propósito de iniciar su propia barbería, puesto que con lo solicitado realizaría todo el montaje respectivo a la barbería (Local, muebles, equipos y productos de barbería), y frente a esto las ganas y empeño que tiene lo expresa diciendo “el préstamo me permitirá tener mi propio negocio y así generar ingresos para mi sustento propio y mi familia”

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.

Tags

About Colombia

  • $11,100
    Average annual income
  • 484
    View loans »
    Colombia Loans Fundraising
  • $14,958,950
    Funds lent in using Kiva
  • 1,885.2
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,650 helped José Aurelio to buy furniture, equipment and barbershop supplies.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 20, 2013
Listed
Jul 23, 2013
Currency Exchange Loss:
Covered
Ended:
Apr 17, 2014