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Luis Fernando
“There are moments in life that stay in our memory forever, memories that are more valuable than precious gems.” With this phrase, Luis Fernando, 59, relates that this is what he loves most aside from his family. His great passion is writing and this is one of the phrases he keeps in his poetry notebook. Although this is his great passion, he carries out other activities in order to meet basic household needs. For the last 25 years he’s been working in a small paint workshop located at the side of his house where he restores and paints furniture. Luis is a man who is full of dreams; he’d like to write a book someday but above all to earn good income to enjoy his old age with no economic wants. Motivated by this wish, he’s asking for a loan to buy an air compressor to improve productivity and income.
View original language description ↓
“En la vida existen momentos que se quedan para siempre en la memoria, recuerdos que tienen más valor que las piedras preciosas”. Con esta frase Luis Fernando de 59 años de edad, cuenta que es lo que más ama, después de su familia. Su gran pasión es la escritura, y esta es una de las frases que este hombre plasma en su cuaderno de poemas. Aunque esta es su gran pasión, este hombre se dedica a otras actividades a fin de suplir las necesidades básicas en su hogar.
Desde hace 25 años labora en un pequeño taller ubicado al lado de su casa prestando el servicio de restauración y pintura de muebles.
Luis es un hombre lleno de sueños, desea poder llegar a escribir un libro, pero sobre todo tener buenos ingresos para gozar de una buena vejez sin necesidades económicas. Motivado por este deseo, se encuentra solicitando un crédito que invertirá en la compra de un compresor, con el fin de mejorar la productividad y mejorar sus ingresos.

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
  • 239
    View loans »
    Colombia Loans Fundraising
  • $16,895,775
    Funds lent in using Kiva
  • 1,789.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Luis Fernando to buy an air compressor to paint furniture.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Jan 28, 2013
Feb 5, 2013
Currency Exchange Loss:
Jul 19, 2013