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Frainer Adolfo
Frainer is 29 years old, single, and doesn't have any children. He was born and raised in the Antioquia region, but moved to the city several years ago in search of better opportunities in order to get ahead in life.

Last year, he started a business selling legumes which was successful, but he was offered a good opportunity and sold the business. With the money obtained, he purchased a vehicle. Frainer is humble, friendly, hard-working, and has an entrepreneurial attitude which motivates him to seek opportunities for bettering his situation. Because of this, he would like to start a new business: washing cars. He already has the space for the business, but needs financial support to purchase the necessary supplies and tools (e.g. a power washer, vacuum cleaner, products to wash the cars) and to renovate and improve the space. This will give his a business a good start, and will allow him to take advantage of the good location and the fact that he already has some clients, including relatives, friends, and neighbors in the area.

With this business plan, Frainer hopes to increase his income, improve his business, and grow his clientele, thus giving him the opportunity to save money to buy his own home and to enjoy better living conditions.
View original language description ↓
Frainer es un hombre de 29 años de edad, soltero y aún no tiene hijos. Nació y creció en un pueblo de la región antioqueña, pero hace algunos años se trasladó a la ciudad en busca de mejores oportunidades para salir adelante. El año pasado inició una legumbrería con la que obtuvo muy buenos resultados pero, se le presentó una buena oportunidad y vendió el negocio, con el dinero que obtuvo de esa venta adquirió un vehículo. El cliente es humilde, amable, trabajador y siempre tiene una actitud emprendedora que lo motiva a buscar opciones que le permitan salir adelante, por esto desea iniciar otro negocio, un lavadero de carros, para lo cual ya posee un local, pero requiere el apoyo del crédito para comprar insumos y herramientas de trabajo necesarias (hidrolavadora, aspiradora, productos para lavar los vehículos) y realizar mejoras locativas, para así darle inicio a su proyecto de negocio, aprovechando la oportunidad de la buena ubicación del local y que ya posee algunos clientes entre familiares, amigos y vecinos del sector. Con esta plan de negocio, Frainer desea generar mejores ingresos con los cuales pueda acreditar bien su negocio y lograr que sea reconocido para que día a día se incremente su clientela y así tener la oportunidad de ahorrar para comprar una vivienda propia y disfrutar de mejores condiciones de vida.

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

  • $6,070
    Average annual income
  • 177
    View loans »
    Colombia Loans Fundraising
  • $12,868,250
    Funds lent in using Kiva
  • 1,884.8
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,075 helped Frainer Adolfo to purchase supplies and the necessary tools (e.g. power-washer, vacuum cleaner, products for washing cars) and to make improvements to his place of business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 22, 2013
Listed
Sep 22, 2013
Currency Exchange Loss:
Covered
Ended:
Oct 17, 2014