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Luis Felipe
For about ten years Luis has been working independently in his own business. Initially he set up a small snack bar but as time passed his clientele started requesting new products which has led to his business’ growth to what it’s become today.

He works alone every day of the week but on some days of the month hires a helper. He’s a hardworking, driven man who very much wants to improve every day and seeks ways to do so. This is what motivates him to seek the loan because he wants to buy stock (soft-drinks, packaged snacks, cookies and crackers, juices, coffee, sweets, etc.) at wholesale to stock up for the approaching Christmas season when display cases need to be well-stocked to meet customer demand.

Luis says that he wants to continue working even though his work is very demanding but he want to continue motivated by his wish to reach his dream of owning a house to improve his living conditions and well-being.
View original language description ↓
Luis desde hace aproximadamente 10 años se dedica a trabajar de manera independiente en su propio negocio. Inicialmente montó una pequeña cafetería pero con el paso del tiempo, su clientela fue solicitando nuevos productos y esto le ha permitido hacer crecer su negocio hasta lo que es hoy en día. Trabaja solo todos los días de la semana, pero en algunos días del mes, debe contratar a una persona que le colabore. El cliente es un hombre trabajador y pujante, con el ánimo de superarse día a día busca nuevas opciones que le permitan hacerlo, por eso se motiva a solicitar el préstamo, pues desea comprar surtido al por mayor (gaseosas, mecato, galletería, jugos, café, confitería, entre otros), así se abastecerá para la temporada de navidad que se aproxima, tiempo en el que las vitrinas deben estar bien surtidas para satisfacer la alta demanda de sus clientes. Luis dice que quiere seguir trabajando aunque su labor es muy esclavizante, pero lo motiva las ganas que tiene de cumplir el sueño de tener su casa propia, para mejorar sus condiciones de vida y bienestar.

Additional Information

More information about this loan

This loan is part of Interactuar's effort to being innovative and high-quality non-financial products to more borrowers.

In addition to credit, the organization provides training in business management, gastronomy, tourism, marketing, design, sales, and other areas. It also advises borrowers on their new and existing businesses, and its food laboratory helps farmers increase their crop yields. Together, all of these services help borrowers gain new skills and optimize their 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.

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About Colombia

  • $11,100
    Average annual income
  • 467
    View loans »
    Colombia Loans Fundraising
  • $15,266,825
    Funds lent in using Kiva
  • 1,877.6
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,775 helped Luis Felipe to buy stock at wholesale.
90% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 23, 2013
Listed
Oct 23, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 20, 2015