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Luis Fernando
Luis, 29 years old, lives with his wife and 5-year-old son. At present he has his own business, a store that sells lingerie and pajamas. This business idea came about from the need to obtain the resources necessary to support his family. Initially it was located in a leased space, but the cost of rent was unreasonable and he had to move. He was able to find another store space that was much more central with a lower rent cost. This gave him the opportunity to have more capital available to invest in his business.

Luis works with his wife every day from 9:00 am to 6:00 pm. Thanks to the good service they provide and the quality of the products they sell, they have become recognized in the area. His enterprising spirit and desire to get ahead motivated him to seek the support of a loan, in order to invest it in the purchase of wholesale merchandise (pajamas and lingerie). He will also buy insurance for his motorbike, which he uses to provide taxi services. This will allow him to have a greater variety of things that satisfy the needs of his clients and he will be able to increase his sales and his income.

Luis dreams of seeing his business grow to become sustainable and profitable in time, affording him the ability to provide his family with a greater sense of well-being and quality of life.
View original language description ↓
Luis, a sus 29 años de edad, vive con su esposa y un hijo de 5 años. Actualmente se dedica a atender su negocio propio, un almacén donde ofrece lencería y pijamas. Esta idea de negocio surgió de la necesidad de conseguir recursos para el sostenimiento de su familia, inicialmente se encontraba ubicado en un local arrendado, pero en vista del costo excesivo del arriendo, tuvo que trasladarse y, logró conseguir otro local mucho más central y el arriendo más económico, esto le dio la oportunidad de tener más capital disponible para invertirle a su negocio. El cliente trabaja en compañía de su esposa, todos los días de la semana de 9:00 am a 6:00 pm y, gracias al buen servicio que prestan y a la calidad de los productos que venden, han logrado ser reconocidos en el sector. Su espíritu emprendedor y su ganas de salir adelante lo motivaron a solicitar el crédito como apoyo, para invertirlo en la compra de mercancía al por mayor (pijamas y lencería), además comprará el SOAT de su moto, la cual utiliza para prestar servicio de moto taxi; esto le permitirá tener más variedad de artículos, que satisfagan los gustos de sus clientes, además podrá incrementar sus ventas y sus ingresos. Luis sueña con hacer crecer su negocio para que sea rentable y sostenible en el tiempo, que le brinde la capacidad de brindar a su familia un mejor bienestar y 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
  • 287
    View loans »
    Colombia Loans Fundraising
  • $16,895,775
    Funds lent in using Kiva
  • 1,928.1
    Colombia Pesos (COP) = $1 USD
A loan of $2,075 helped Luis Fernando to buy wholesale merchandise (pajamas and lingerie) and purchase insurance for his motorbike.
Repayment Term
27 months (Additional Information)
Repayment Schedule
Jul 29, 2013
Aug 30, 2013
Currency Exchange Loss:
Sep 29, 2013