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Oscar David
Oscar is a 28-year-old man who is full of dreams and aspirations for his life. From a very young age he has held several jobs, but basically all of them involved working at supermarkets or selling merchandise. As a great entrepreneur and visionary of the future, Oscar wants to start his own business. His idea is to stay in a particular business within a designated period of time, build it up, and then hand over responsibility to an employee so that he can start another venture. He plans to have a supermarket that generates good revenues and provides enough jobs in the area.

Oscar intends for his store to distribute basic household items, so he is requesting a loan in order to buy display cabinets, shelves, and merchandise so that he can undertake this project.
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Oscar es un hombre de 28 años lleno de sueños y aspiraciones para su vida, desde muy joven ha desempeñado varios trabajos, pero básicamente todos ellos se desenvuelven en supermercados o vendiendo objetos, pero como gran emprendedor y visionario del futuro quiere comenzar su propio negocio con la idea de permanecer un periodo de mediano plazo constituyendo el negocio para darle paso a un empleado para comenzar con otro negocio y así irse hasta tener un supermercado de alimentos donde tenga buenos ingresos y genere bastantes empleos en el sector. En su tienda piensa distribuir productos de la canasta familiar y para ello quiere solicitar un crédito para la compra de vitrinas, estanterías y mercancía para darle inicio a su gran proyecto 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
  • 301
    View loans »
    Colombia Loans Fundraising
  • $13,782,800
    Funds lent in using Kiva
  • 1,861.2
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,075 helped Oscar David to buy display cabinets, shelves, and merchandise.
43% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 5, 2014
Listed
Jul 10, 2014
Currency Exchange Loss:
Possible