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Oscar Vicente
At 54 years old, Oscar is father of 3 children and lives in a common-law marriage with his wife. He was born and lived in the country where he learned agricultural and livestock work. He has had work experience in diverse fields, carrying out jobs such as day laborer and supervisor, but when he found himself unemployed he looked for options that would allow him to be self-employed. Thus he began to sell cheeses, a job that he does daily beginning at a very early hour. He travels around on his bicycle throughout the town where he lives. In this way he has been able to generate income for the daily support of his family.

Oscar is a thriving, friendly, hardworking man, dedicated to his family and work. He knows that he should keep fighting with care to be able to achieve his goals. This motivates him to ask for the support of a loan, with the objective of using it to buy cheese wholesale, in order to take advantage of the discounts that he can get for cash purchases. In this way he can increase the profit margin for each sale. This will help to increase his income in order to continue meeting the needs of his home and giving his children the opportunity of having a better education, besides improving the quality of life of his entire immediate family.
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Oscar, con 54 años de edad, es padre de 3 hijos y vive en unión libre con su pareja. Nació y creció en el campo donde aprendió todas las labores agropecuarias. Ha tenido experiencia laboral en diversas fincas, desempeñándose como jornalero o mayordomo; pero luego de quedarse desempleado, él buscó opciones que le permitieran obtener ingresos por cuenta propia, es así como comenzó a comercializar quesos, actividad que realiza diariamente desde primeras horas del día, desplazándose en su bicicleta por todo el municipio donde reside y, de esta forma ha logrado generar ingresos para llevar el sustento diario a su familia. Oscar es un hombre pujante, amable, trabajador y dedicado a su familia y a su labor, sabe que debe seguir luchando con esmero para poder alcanzar sus objetivos; esto lo motiva a solicitar el apoyo del crédito, con el fin de invertirlo en la compra de quesos al por mayor, para aprovechar los descuentos que obtiene por compras de contado y así poder aumentar el margen de ganancia por cada venta, lo que ayudará a incrementar sus ingresos para continuar solventando las necesidades de su hogar y dar a sus hijos la oportunidad de tener una mejor educación, además de mejorar la calidad de vida de todo el núcleo familiar.

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
  • 466
    View loans »
    Colombia Loans Fundraising
  • $15,270,025
    Funds lent in using Kiva
  • 1,925.6
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $525 helped Oscar Vicente to buy consumable goods in bulk (cheeses).
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 23, 2013
Listed
Aug 26, 2013
Currency Exchange Loss:
Covered
Ended:
Apr 17, 2014