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Juan Fernando
Juan is 20 years old, single, and lives with his mother, with whom he learned how to sell shaved ice, as she has sold them for several years outside of a school. By necessity, lack of experience and lack of job opportunities, he decided to obtain his own resources, therefore he began selling shaved ice, but he requires the support of a loan to invest in the purchase of a machine to make shaved ice with which he will have the possibility of generating income in order to support his home economically and make real his dream of attending the university in order to have a promising and successful future that will enable him to provide his mother economic stability, well-being, and a better quality of life.
View original language description ↓
Juan con 20 años de edad, es soltero y vive con su madre, con quien aprendió la labor de la venta de raspados, ya que ella lleva varios años vendiendo el producto a las afueras de un colegio. Por necesidad, falta de experiencia y falta de oportunidades laborales, él decide conseguir recursos por cuenta propia, por eso comenzó la venta de raspados, pero requiere el apoyo del crédito para invertirlo en el pago de la máquina para hacer raspados con lo cual tendrá la posibilidad de generar ingresos para apoyar la carga económica en su hogar y cumplir el sueño de realizar una carrera universitaria, para tener un futuro prometedor y exitoso que le permita brindarle a su madre una estabilidad económica, bienestar y mejor calidad de vida.

Additional Information

More information about this loan

By funding this loan, you are promoting entrepreneurship in remote regions, including areas recovering from guerilla warfare in Colombia, and helping to reverse the rural exodus which occurred in the past decades when a the rural population fled their countryside homes for the safer cities.

This Kiva loan was created by Kiva's field partner Interactuar specifically for Kiva funding, in an effort to reach more borrowers in rural areas. Most of the Interactuar's lending operations are focused in urban parts of Medellin. But this loan product is designed to provide working capital to riskier agricultural businesses who have been traditionally excluded from the finance sector.

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
  • 1,886.3
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Juan Fernando to invest in buying a machine to make shaved ice.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Jun 29, 2013
Jul 31, 2013
Currency Exchange Loss:
Nov 17, 2014