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Omar
Omar is a farmer and is forty-eights years old. He makes a living growing coffee and sugar cane on his land. He also sells different types of vegetables and fruits in the town plaza from Thursday to Sunday. His goal is to generate more revenue so that he can provide for his three young children.

He is thankful for his life and his marvelous family, and dreams of offering them better opportunities. This is what has motivated him to request a loan. He will buy stock supplies so that he can increase his sales. He hopes to save so that he can build up his home and guarantee a better quality of life for his family.
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Omar es un agricultor de 48 años de edad, dedicado al cultivo de café y la caña de azúcar en su vereda. Actividad que alterna con la venta de legumbres, frutas y hortalizas en la plaza municipal de jueves a domingo, con el fin de generar mejores recursos para el sostenimiento de sus tres hijos menores de edad.
Se siente agradecido con la vida por su maravillosa familia y sueña con brindarles mejores oportunidades. Razón que lo ha motivado a solicitar un crédito para la compra de surtido con el fin de aumentar sus ventas. Espera ahorrar y poder construir su vivienda para garantizarle a su familia una mejor caliad de vida.

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
  • 473
    View loans »
    Colombia Loans Fundraising
  • $14,958,950
    Funds lent in using Kiva
  • 1,892.3
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,075 helped Omar to buy different types of vegetables and fruit.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 15, 2013
Listed
Jun 20, 2013
Currency Exchange Loss:
Covered
Ended:
Jul 17, 2015