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Luis Carlos
Luis is a studious young man who was taking a course in systems engineering, but decided to withdraw because it was an online course and he didn't like this style of presentation. He would rather take the courses face-to-face. At 24 years of age, he is a grown man and as such needs to contribute to the household.

For this reason, he wants to ask for a loan to start an internet cafe business, offering an opportunity to young people of limited means to have access to this global tool. He has pinned his hopes on getting ahead with this business: it will be his chance to pay for tuition to a university. With the loan, he will be able to buy computers and a glass showcase with which he can formally start up his business.
View original language description ↓
Luis un joven estudioso el cual se encontrada realizando un curso de ingeniería en sistema pero decidió abandonarlo porque era virtual y no le gusto de esta manera pues preferiría estar presencialmente.
A sus 24 años de edad sabe que ya es todo un hombre y como tal debe aportar para la casa por eso quiere solicitar un crédito para iniciar un negocio de sala de internet ofreciendo una oportunidad a jóvenes de escasos recursos tener acceso a esta herramienta global, deposita todos su seños de salir adelante en este negocio pues será la oportunidad de pagarse una universidad real.
Con el crédito podrá comprar computadores, una vitrina con la que iniciara formalmente su empresa

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
  • 163
    View loans »
    Colombia Loans Fundraising
  • $13,225,875
    Funds lent in using Kiva
  • 1,856.4
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,175 helped Luis Carlos start up his internet cafe, buy computers and a show case.
22% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 13, 2014
Listed
Jul 17, 2014
Currency Exchange Loss:
Possible