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Edwin Alexander
Edwin, 26 years old, is single and doesn't have children. Due to a lack of work opportunities, he decided to start his own business and find resources on his own. He put together the pizzeria two years ago, taking advantage of the opportunity of not having nearby competition, achieving excellent results that are now reflected in the opening of two other pizzerias, which are located in other municipalities of Antioquia. Edwin is an organized, enterprising, sensible, and active man. He is always looking for opportunities to move toward completing his goals.

For this reason, he is requesting a loan, which he wants to invest in improving his locations (change the cement floor to ceramic) and buy fixed assets (refrigerator) for one of his locations. This will give his business a better image and improve his customers' perceptions. This will allow him to attract new guests and increase sales and income. Edwin dreams growing his business into a pizzeria chain, which would be profitable and long-lasting. With this, he hopes to have economic stability to guarantee a better future for his family.
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Edwin a sus 26 años de edad, es soltero y no tiene hijos. Debido a la falta de oportunidades laborales, decidió iniciar su propio negocio y conseguir los recursos por cuenta propia. Montó una pizzería desde hace 2 años, aprovechando la oportunidad de no contar con competencia cercana en el sector, logrando excelentes resultados que hoy en día se ven reflejados en el montaje de otras 2 pizzerías ubicadas en diferentes municipios de Antioquia. El titular es un hombre organizado, emprendedor, juicioso y muy activo, siempre está buscando oportunidades que le permitan avanzar hacia el cumplimiento de sus metas, por esta razón solicita el crédito que desea invertir en la realización de mejoras locativas (cambiar el piso de cemento, por cerámica) y comprar activo fijo (nevera) para uno de sus locales, con lo que podrá darle una mejor imagen a su negocio y mejorar la percepción de los clientes, y así podrá atraer a nuevos comensales y aumentar sus ventas e ingresos. Edwin, sueña con hacer crecer su negocio hasta convertirlo en una cadena de pizzerías, que sea rentable y perdurable en el tiempo, con esto podrá tener una estabilidad económica y garantizar un mejor futuro para su familia.

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.

About Colombia

  • $6,070
    Average annual income
  • 178
    View loans »
    Colombia Loans Fundraising
  • $12,868,250
    Funds lent in using Kiva
  • 1,877.7
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $1,075 helped Edwin Alexander to complete renovations (change the cement floor to ceramic) and buy fixed assets (refrigerator).
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 10, 2013
Listed
Aug 10, 2013
Currency Exchange Loss:
Covered
Expired:
Sep 9, 2013