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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
  • 245
    View loans »
    Colombia Loans Fundraising
  • $13,496,575
    Funds lent in using Kiva
  • 1,933.3
    Colombia Pesos (COP) = $1 USD
Paying Back - Delinquent
A loan of $1,050 helped this borrower to buy merchandise wholesale, especially perfume.
67% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 22, 2013
Listed
Dec 25, 2013
Currency Exchange Loss:
Possible