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Andres is 34 years old. He wants very much to start his own business with the goal of improving his family's economic situation. This has motivated him to request a loan to get training in bread making and start making his business a reality.

His ability for cooking has made it possible for him to work making and selling desserts in his town, so he hopes to expand his skills and his portfolio of products.
View original language description ↓
Andrés de 34 años de edad, anhela crear su propio negocio con el fin de mejorar la condición económica e su familia, motivo que lo ha impulsado a solicitar un crédito para capacitarse en panadería y comenzar a materializar su proyecto de negocio.
Sus habilidades para la cocina, le han permitido dedicarse a la elaboración y venta de postres en su localidad, por lo cual espera ampliar sus conocimientos y ampliar su portafolio de productos.

Additional Information

More information about this loan

This loan is part of Interactuar's effort to being innovative and high-quality non-financial products to more borrowers.

In addition to credit, the organization provides training in business management, gastronomy, tourism, marketing, design, sales, and other areas. It also advises borrowers on their new and existing businesses, and its food laboratory helps farmers increase their crop yields. Together, all of these services help borrowers gain new skills and optimize their 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
  • 224
    View loans »
    Colombia Loans Fundraising
  • $16,925,975
    Funds lent in using Kiva
  • 1,865.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $200 helped Andrés pay for training in bread making.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
May 16, 2013
May 26, 2013
Currency Exchange Loss:
Dec 19, 2013