The loan will be used to buy fixed assets (tables and chairs, a pizza oven) for $1.800.000, to pay rent for the locale and cover the first month’s expenses for $900.000, to buy assorted supplies (cold cuts, bread, sauces, soft-drinks, cheese) for $1.000.000, to do physical upgrades (paint) for $600.000 and to buy utensils and kitchen equipment (deep fryer, knives, spoons, colanders, pots) for $700.000 for a grand total of $5.000.000.
With this she’ll be able to start her business that will generate two direct employment opportunities and will improve her income for home support and she will be in the possibility of reaching her dream of positioning her business and providing a good education for her daughter as well as to improve the quality of life of her entire family.
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 InformationThis 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.
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