Check out some available loans that are similar to this one!
Omar Antonio
Omar learned the recycling trade from his parents, who were always engaged in this type of business. He has extensive experience in this line of work, which has allowed him to succeed. Omar is separated from the mother of his three children, so he is responsible for maintaining the expenses of his family. For this reason, he works hard in his business. Omar's recycling business is a major source of income and he has been able to get ahead due to his great experience. He is eager to purchase some more materials, so Omar is taking this opportunity to access a loan for acquiring recyclable products that are being offered at a very low price.


By acquiring these products, Omar will increase his profit margin because of the low price that he is paying. He also hopes that continued growth and more income will result in his children having a better quality of life.

View original language description ↓
Omar aprendió la actividad del reciclaje gracias a sus padres que siempre se dedicaron a esta actividad, por lo que ha tenido una gran experiencia en este trabajo y esto le ha permitido salir adelante. Omar se encuentra separado de la madre de sus 3 hijos, por lo que debe garantizar el sostenimiento de los gastos de su familia, y para esto trabaja fuertemente en su negocio. Omar tiene la actividad del reciclaje como una gran fuente de ingresos y gracias a esto ha podido salir adelante llevando a cabo esta actividad en la que tiene gran experiencia. Con el ánimo de acceder a la compra de algunos materiales, Omar busca que un préstamo le brinde la oportunidad de acceder a la compra de productos de reciclaje los cuales se los están ofreciendo a un muy bajo precio.

De esta manera, Omar podrá acceder a estos productos y aumentar su margen de ganancia gracias al bajo costo que se los están vendiendo. Además, Omar espera que sus hijos puedan tener una mejor calidad de vida con mayores ingresos y por esto espera seguir creciendo.

Additional Information

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

  • $6,070
    Average annual income
  • 292
    View loans »
    Colombia Loans Fundraising
  • $13,948,100
    Funds lent in using Kiva
  • 1,790.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Omar Antonio to buy recyclable materials.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 27, 2012
Listed
May 2, 2012
Currency Exchange Loss:
Covered
Ended:
Oct 17, 2012