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Libardo Antonio

Update on Libardo Antonio

Libardo Antonio is sixty-two years old and is married with nine children. His greatest virtue is his persistence. This, he says, is what has allowed him to continue moving forward with his children.

Seven months ago, he decided to close his vegetable stall in the market in his town, since he was generating losses due to the high competition. He made the decision to put a shop in his home, since his business is the only source of income for sustaining his home.

Presently, he is requesting a loan to buy merchandise, in order to supply his business and to increase the level of sales, thereby improving the quality of life. His greatest wish is to be able to live peacefully without his family having to pass up needs.
View original language description ↓
Libardo Antonio de 62 años de edad, es un hombre casado y con nueve hijos, su mayor virtud es su recursividad, ésta, dice él, es la que le ha permitido sacar adelante a sus hijos. Hace 7 meses decidió cerrar su puesto de legumbres en la plaza de mercado de su pueblo, debido a que le estaba generando perdidas por la alta competencia. Tomó la decisión de colocar una tienda en su casa ya que su negocio es la única fuente de ingresos para el sostenimiento del hogar. En este momento se encuentra solicitando un crédito para la compra de surtido, para abastecer su negocio y aumentar el nivel de ventas mejorando su calidad de vida. Su mayor deseo es poder vivir tranquilo sin que su familia tenga que pasar necesidades.

Previous Loan Details

Without many financial resources and facing great adversity that presented itself along the way, Libardo has had the strength to set up his own business selling vegetables in the marketplace in his town. His business has provided the opportunity to generate the necessary income to support his ho... More from Libardo Antonio's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Colombia

  • $11,100
    Average annual income
  • 472
    View loans »
    Colombia Loans Fundraising
  • $15,262,800
    Funds lent in using Kiva
  • 1,790.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,075 helped Libardo Antonio to buy merchandise, like grain, pasta, snacks, and drinks.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 21, 2012
Listed
Jan 1, 2013
Currency Exchange Loss:
Covered
Ended:
Jun 17, 2014