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Total loan: $500,000
Medellín, Antioquia, Colombia / Services
Flag of Colombia
Interactuar's loan finished fundraising,
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A loan helped entrepreneurs and internally displaced populations restart their businesses that have been affected by the COVID-19 crisis.
Interactuar is a non-profit microfinance institution located in Medellin, Colombia. Since 1983, Interactuar has been working to create sustainable employment opportunities for communities affected by its armed conflict, geographic exclusion and high unemployment. They offer microfinance, practical vocational courses and business development services to rural and urban micro-entrepreneurs in low-income communities. Kiva's partnership with Interactuar has specifically focused on helping internally displaced people in the rural, post-conflict regions of Colombia develop their businesses and provide for their families. Currently, 15% of Colombia's population has been displaced by the civil war and most do not have access to financial services. While historically a stable organization, the global pandemic has led to Colombia being under a partial lockdown, with internal movement restrictions and curfews, which has severely impacted Interactuar’s lending operations. This includes a limited ability to disburse loans and receive repayments on the loans they disbursed before the crisis. Like many businesses around the world, Interactuar is unable to operate normally as a result of the crisis, leading to a need to access flexible working capital. This loan will allow them to help borrowers' businesses recover from the crisis, help low-income, displaced Colombians rebuild lives and integrate into their new communities, and cover operational expenses such as staff salaries.