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Andres Felipe
Andrés, 20, is a young entrepreneur who had always dreamed with opening a business of his own. This is why two years ago he got a job with a systems firm and started to save money to have enough capital to set up his own business. Two months ago he started selling food located in a spot where he has the opportunity of tending to a large number of customers and gradually, with much effort, he’s been overcoming the difficulty of capital in his business and is offering good customer service. In order to increase sales, Andrés is looking for financing to buy a mill plus its motor, a kneader and supplies he needs to increase his business’ production capacity. His dream is to be able to move the business ahead and to improve sales so that he can increase income and be able to offer his parents better quality of life at home where they’ve always gone through economic difficulties.
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Andres es un joven emprendedor de 20 años de edad que siempre había soñado con montar su propio negocio, por esto desde hace 2 años que consiguió un empleo en una empresa de sistemas comenzó a ahorrar para poder tener el capital suficiente para montar su negocio. Hace 2 meses inició con su venta de comidas la cual está ubicada en un local donde tiene la oportunidad de atender a una gran cantidad de clientes y poco a poco con gran esfuerzo ha ido superando la dificultad de capital en el negocio y ofreciendo así a sus clientes un buen servicio. Para poder mejorar las ventas, Andres busca un préstamo para comprar un molino más el motor, una amasadora e insumos que necesita para aumentar la capacidad de producción de su negocio.

Su sueño es poder sacar este negocio adelante y mejorar las ventas, de modo que pueda aumentar sus ingresos y así poder ofrecer a sus padres una mejor calidad de vida en el hogar donde siempre han pasado por dificultades económicas.

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
  • 246
    View loans »
    Colombia Loans Fundraising
  • $16,895,775
    Funds lent in using Kiva
  • 1,798.5
    Colombia Pesos (COP) = $1 USD
A loan of $675 helped Andres Felipe to buy a mill and its motor, a kneader and supplies he needs.
Repayment Term
14 months (Additional Information)
Repayment Schedule
Sep 14, 2012
Nov 1, 2012
Currency Exchange Loss:
Nov 30, 2012