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Luis Fernando
Luis, a small business owner of 27 years, makes his living as an independent entrepreneur. For the last 5 years, he has owned a video rental and sale store. In addition, he offers the following services: internet café, photocopies, document printing. He complements the services with the sale of snacks, sweets and soda. This came from his passion for film and he saw a favorable opportunity in this, as there is no direct competition in the sector. In this manner, he generates sufficient resources in order to bring sustenance to his home where he lives with his wife.

With the enthusiasm of strengthening his business, he is applying for the help of this loan to maintain and update the computers he owns, buy a computer, buy 3 security cameras and buy advertising. This will let him position his business even more in the market, and he will be a little more protected with the new system he wishes to acquire. Additionally, the advertising will make him known in other nearby areas, which will open the possibility of attracting new clients and improving his sales.

Luis says that his project for the near future is to continue positioning his business so that it is more profitable. This will permit him to achieve the dream of opening other branches. In addition, he wishes to buy his own house to offer his family better living conditions and enjoy a better wellbeing.
View original language description ↓
Luis, es un microempresario de 27 años de edad, dedicado a trabajar como comerciante independiente, desde hace 5 años posee una tienda de alquiler y venta de películas, además presta el servicio de café internet, fotocopiado e impresión de documentos y complementa los servicios con la venta de mecato, dulces y gaseosas; la idea surgió de su pasión por el cine y vio en esto una ventaja muy favorable, pues no cuenta con competencia directa en el sector; de esta forma genera los recursos suficientes para llevar el sustento a su hogar donde vive con su esposa.
Con el ánimo de fortalecer su negocio, solicita el apoyo del crédito para realizar mantenimiento y actualización a los equipos de cómputo que posee, comprar un computador, comprar 3 cámaras para el sistema de seguridad y sacar publicidad, esto le permitirá acreditar aún más su negocio y estará un poco más protegido con el nuevo sistema que desea adquirir, además con la publicidad se dará a conocer en otros sectores aledaños, lo que le abrirá la posibilidad de atraer nuevos clientes y mejorar sus ventas.
Luis manifiesta que su proyecto para un futuro cercano es seguir posicionando su negocio para que sea más rentable y, le permita cumplir el sueño de abrir otras sucursales, además desea comprar una casa propia para ofrecer a su familia mejores condiciones de vida y disfrutar un mejor bienestar.

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
  • 246
    View loans »
    Colombia Loans Fundraising
  • $13,479,900
    Funds lent in using Kiva
  • 1,931.3
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,575 helped Luis Fernando to maintain and update the computers he owns, buy a computer, buy 3 security cameras and take out advertising.
98% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 15, 2013
Listed
Dec 18, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014