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Ricardo worked for a photography firm for 8 years but noting that his income was insufficient to support his home decided to become independent and set up his own business. This is how he started taking photos in one of the city’s main parks. In addition, he works nights at home in a cabinet-making shop he also started. In this way he’s been able to improve his income and overcome the great difficulty of being a head of household with a four-year-old son because his son’s mother abandoned them some time ago leaving him with all the responsibilities. His main difficulty is that he has little working capital which is why he’s now looking for a loan to buy a battery he needs for the car he uses to take the children’s photos in the park and also to buy supplies for the cabinet-making workshop he operates at night at home. His dream is to be able to improve his income and buy a house of his own to have better economic stability and a better home for his son.
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Ricardo trabajó en una empresa de fotografía durante 8 años, pero al ver que sus ingresos eran insuficientes para poder sostener su hogar, decidió independizarse y montar su propio negocio. Fue así como inició tomando fotos en un parque principal de la ciudad y además en su casa trabaja por las noches en una marquetería que también inició. De esta manera ha podido mejorar sus ingresos y así superar la gran dificultad de ser cabeza de hogar de su hijo de 4 años, ya que la madre de su hijo los abandonó hace un tiempo dejándolo a cargo de todas las obligaciones. La principal dificultad que tiene es el poco capital con el que puede trabajar, es por esto que ahora busca un préstamo para comprar una batería que requiere el carro donde toma las fotos a los niños en el parque y comprar insumos para la marquetería que trabaja en las noches en su casa.

Su sueño es poder mejorar sus ingresos y comprarse su casa propia para poder tener una mejor estabilidad económica y un mejor hogar para su hijo.

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

  • $11,100
    Average annual income
  • 381
    View loans »
    Colombia Loans Fundraising
  • $16,201,675
    Funds lent in using Kiva
  • 1,798.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,125 helped Ricardo to buy car battery and carpentry supplies.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Sep 14, 2012
Nov 1, 2012
Currency Exchange Loss:
Aug 30, 2014