Omar is a person who has had to overcome a lot of adversity in his life. His desire to work and get ahead has allowed him to fight hard against these difficulties and continue making progress with his family. Omar is responsible for his four children because their mother left them some time ago. In addition to this, he has been without work for approximately five years and he saw the need to look for a way to generate income with which to support his household.
This was how he set up his own business selling potatoes and fried bananas, which he prepares in a cart and is located outside a school all day. With this job he has been able to generate the income he needs to support his household and with which he has been able to give his children a better quality of life.
Because his residence is quite far from the school where he sells his products, Omar has put a motor in his cart to be able to transport it. Nevertheless, right now his motor is broken and he has not had the financial resources to fix it. For this reason Omar is looking for a loan that will give him the possibility of repairing the motor of his cart and be able to transport it from his residence to the school where he sells his products.
Omar hopes that he can continue working and generate the income with which he can give his children a good quality of life and a quality education.
Omar es una persona que ha tenido que superar muchas adversidades en su vida, en lo cual sus ganas de trabajar y salir adelante le han permitido luchar fuertemente contra estas dificultades y continuar progresando junto a su familia. Omar tiene a su cargo 4 hijos, pues su madre los dejó hace un tiempo, y además de esto, desde hace aproximadamente 5 años se quedó sin empleo y se vio en la obligación de buscar la manera de generar ingresos con los cuales pudiera sostener su hogar. Fue así como montó su propio negocio de venta de papas, plátanos fritos los cuales los prepara en un carro y se ubica a las afueras de un colegio durante todo el día. Con esta actividad ha podido generar los ingresos que requiere para el sostenimiento de su hogar y con lo que ha podido brindarles a sus hijos una mejor calidad de vida. Debido a que su residencia es bastante alejada del colegio donde ofrece sus productos, Omar le ha colocado un motor a su carro para poder transportarlo, sin embargo, en estos momentos su motor se encuentra averiado y no ha tenido los recursos económicos para arreglarlo. Es por esto que Omar busca que un préstamo le brinde la posibilidad de acceder a realizar la reparación del motor de su carro y poder transportarlo desde su residencia hasta el colegio donde ofrece sus productos.
Omar espera que así pueda seguir trabajando y seguir generando los ingresos con los cuales pueda ofrecer a sus hijos una buena calidad de vida y un estudio de calidad.
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.