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Seventeen years ago, Guillermo B. C. started his business with borrowed equipment and the hope of making his repair shop successful. This business is the means by which he supports himself and his family, which includes three children.

Guillermo dreams of providing his youngest daughter with a higher education. In order to do this, he must keep his business in operation so that he will have the income to make this dream a reality. This entrepreneur currently needs a loan to acquire equipment that will enable him to streamline the process of mounting tires and provide high quality service to his customers.

View original language description ↓
Con herramienta prestada y con la esperanza de hacer de su taller de mecánica un negocio próspero, desde hace 17 años, Guillermo B. C., empezó con su negocio, el cual ha sido la fuente de sustento para él y su familia conformada por tres hijos.

Ofrecerle educación superior a su hija menor, es el sueño de Guillermo y para lograrlo requiere que su negocio permanezca en el tiempo, pues así podrá contar con los ingresos que puedan hacer de este sueño una realidad. Actualmente este emprendedor requiere de un préstamo para la adquisición de herramientas que le permitirán agilizar el proceso del montaje de las llantas, así logrará atender mayor cantidad de clientes.

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.

About Colombia

  • $11,100
    Average annual income
  • 394
    View loans »
    Colombia Loans Fundraising
  • $18,296,125
    Funds lent in using Kiva
  • 1,875.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,075 helped Guillermo purchase equipment for mounting tires.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jan 19, 2011
Jan 19, 2011
Currency Exchange Loss:
Feb 15, 2013