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Norbey is 23 years old and is a young entrepreneur with great projects in his future. His biggest dream is to become a radio announcer, which is why he wants to begin University study. However, due to the difficult economic situation of his family, his dreams have been cut short. Therefore, he has decided to begin his own business and thereby pay for his own university studies. For that reason he is asking for a loan which he will invest in Amway products that he will sell to his friends and family in the area. He dreams of being a great businessman and the best communicator in the country.
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Norbey de 23 años de edad, es un joven emprendedor y con grandes proyectos por realizar. Su mayor sueño es convertirse en un gran locutor de radio, por lo cual desea acceder a la universidad y comenzar sus estudios, pero debido a la difícil situación económica de su familia, su deseo se ha visto truncado. Por lo cual ha tomado la decisión de crear su propio negocio y pagarse su carrera universitaria. Razón por la cual se encuentra solicitando un crédito que invertirá en la compra de productos Amway que comercializará entre sus vecinos y amigos del sector. Se idealiza como un gran empresario y el mejor comunicador del país.

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.

About Colombia

  • $11,100
    Average annual income
  • 305
    View loans »
    Colombia Loans Fundraising
  • $18,216,850
    Funds lent in using Kiva
  • 1,840.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Norbey to purchase Amway products.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Apr 9, 2013
Apr 27, 2013
Currency Exchange Loss:
Nov 18, 2013