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Angel Manuel
Angel is a 25 year-old who has a lot of responsibilities, including raising his two little ones who are both under the age of 5. He works providing a variety of products to his customers in the neighborhood, who are farmers by nature. There are not many places nearby that offer these services. Angel is the owner of one of the few general stores that operate in the area. He has to ensure that he has all of the supplies that his customers need, such as groceries, meats, dairy products, and other items. His customers have to travel long distances if they can't find something they need at his store. This is why Angel is requesting a loan to stock up and recondition his store, because the visual aspect is important, and he wants to make his store the best it can be within his budget. In the future, he plans to be the owner of a chain of stores throughout the city.
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A sus 25 años de edad carga con una gran responsabilidad y no solo la de criar a sus dos retoños que no superan los 5 años de edad su principal labor es proveer los insumos a la variedad de clientela que hay en el sector pues son campesinos por naturaleza y no hay muchos lugares cercanos que ofrecen estos servicios pues Ángel es el dueño de una de las pocas tiendas generales que operan en la zona y tiene que velar por tener todos los insumos necesarios para abastecer a sus clientes como víveres, granos, carnes, lácteos entre otros quienes tienen que hacer largos desplazamientos en el hipotético caso de no encontrar algo en su tienda y es por esta razón que el señor Ángel Solicita un crédito para la compra de surtido y adecuación de su local ya que le importa mucho lo visual y quiere hacer de su local lo más comercial al alcance de su bolsillo proyectando su futuro como el dueño de una cadena de tiendas en toda la ciudad

Additional Information

More information about this loan


By funding this loan, you are promoting entrepreneurship in remote regions, including areas recovering from guerilla warfare in Colombia, and helping to reverse the rural exodus which occurred in the past decades when a the rural population fled their countryside homes for the safer cities.

This Kiva loan was created by Kiva's field partner Interactuar specifically for Kiva funding, in an effort to reach more borrowers in rural areas. Most of the Interactuar's lending operations are focused in urban parts of Medellin. But this loan product is designed to provide working capital to riskier agricultural businesses who have been traditionally excluded from the finance sector.

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
  • 466
    View loans »
    Colombia Loans Fundraising
  • $14,958,950
    Funds lent in using Kiva
  • 1,881.5
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,675 helped Angel Manuel to buy supplies and remodel his store to make it more appealing to his customers.
85% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 26, 2014
Listed
Jun 30, 2014
Currency Exchange Loss:
Possible
Ended:
Apr 18, 2015