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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.

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About Colombia

  • $6,070
    Average annual income
  • 252
    View loans »
    Colombia Loans Fundraising
  • $13,479,900
    Funds lent in using Kiva
  • 1,914.6
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Defaulted
A loan of $1,050 helped this borrower to buy assorted groceries wholesale (pulses, pasta, rice, dairy products, eggs and other items).
Repayment Term
24 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 20, 2013
Listed
Sep 18, 2013
Currency Exchange Loss:
Covered
Defaulted:
Jul 28, 2014