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Miguel Enrique
Miguel is 50 years old and the father of two children. He lives with his partner. Around 31 years ago, he started selling milk and cheese in various neighborhoods of the town in which he lives. He works from 5:00am to 3:00pm every day of the week and is lucky to have regular customers and be recognized for his extensive experience. He learned this activity from his father and it has been a family tradition. Miguel is an enterprising and dedicated man, who works tirelessly to support his family.

Today, he is requesting the help of a loan to invest it in buying raw material (milk) in bulk, so that he can maintain his business and meet his current demand. This will help him to boost his sales and, as a result, his income. This will allow him to achieve his dream of continuing to strengthen his business, improving his family's quality of life and offering his children the opportunity to study at university, so that they build a successful future.
View original language description ↓
Miguel, con 50 años de edad es padre de 2 hijos y vive en unión libre con su pareja. Hace aproximadamente 31 años se dedica a vender leche y quesos en diferentes barrios de municipio donde reside, trabaja de 5:00 am a 3:00 pm todos los días de la semana y cuenta con la ventaja de poseer sus clientes fijos y ser reconocido por su amplia trayectoria, esta actividad la aprendió de su padre y ha sido una tradición familiar. El cliente es un hombre emprendedor, dedicado, lucha incansablemente para sacar adelante a su familia. Actualmente solicita el apoyo del crédito con el fin de invertirlo en la compra de materia prima al por mayor (leche) para poder continuar con su negocio y satisfacer la demanda actual que posee, esto le permitirá aumentar sus ventas y por ende sus ingresos, con los cuales podrá cumplir el sueño de seguir fortaleciendo su negocio, mejorar la calidad de vida de su familia y ofrecer a sus hijos la oportunidad de realizar una carrera universitaria, para que se forjen un futuro exitoso.

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
  • 240
    View loans »
    Colombia Loans Fundraising
  • $16,895,775
    Funds lent in using Kiva
  • 1,945.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Miguel Enrique to buy raw material (milk) in bulk.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Jul 31, 2013
Sep 3, 2013
Currency Exchange Loss:
Apr 17, 2014