Check out some available loans that are similar to this one!
Liliana Andrea

Update on Liliana Andrea

Liliana wishes to start a nightclub in the main park of Puerto Triunfo. This locale has been in operation many years, but it was closed due to poor management. She will work with one other person who has all the necessary knowledge in the management of bars and nightclubs. The venue will open on weekends and will fulfill the schedule normally kept by these establishments (8:00 pm to 4:00 am). She will use the loan to purchase the necessary assortment of goods (beers, liquors, sodas, snacks) and to adjust the venue.
View original language description ↓
Liliana desea iniciar una discoteca en el parque principal de puerto triunfo, lugar que ha funcionado por muchos años, pero por mal manejo fue cerrado, trabajara junto a otra persona quien tiene todo el conocimiento adecuado en manejo de bares y discotecas, el lugar abrirá los fines de semana, cumpliendo con el horario pactado en la norma (8:00 pm a 4:00 am).
Ella manejara el crédito para comprar surtido necesario (cervezas, licores, gaseosas, pasa bocas), y adecuar el local

Previous Loan Details

Liliana is a single mother and head of household. She has a two year-old son to whom she has always wanted to provide a good quality of life. To do this she works very hard in her business, which is a stationery store, to generate enough income so that she can have good economic stability for her… More from Liliana Andrea's previous loan »

Additional Information

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Colombia

  • $6,070
    Average annual income
  • 184
    View loans »
    Colombia Loans Fundraising
  • $13,162,950
    Funds lent in using Kiva
  • 1,887.6
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,325 helped Liliana Andrea to purchase an assortment of goods and to adjust the venue.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 26, 2013
Listed
Jul 31, 2013
Currency Exchange Loss:
Covered
Ended:
Aug 30, 2014