Oscar’s a very hardworking person who has managed to support his family despite the great adversities life has presented him. To generate income needed for his household, he has a business cutting and selling lumber that he learned years ago and thanks to his experience he’s now well-known for the good quality of his work. Due to the great economic difficulties he has and the long processes he must carry out in order to fell trees, Oscar faces great difficulties in his business in order to move forward. However, he works harder every day and gradually his wife and son have been able to enjoy a better quality of life.
Oscar needs a loan to buy a chainsaw to have the needed work tool for an employment position he plans to open in order to respond to customer orders. His dream is to own his own tree farm to harvest and he’s already started it with a small crop of pine trees. He also hopes to have better economic opportunities for his family and a better quality of life.
Oscar es una persona muy trabajadora que ha logrado sacar su familia adelante a pesar de las grandes adversidades que se le han presentado en la vida. Para generar los ingresos que requiere en su hogar, tiene un negocio de corte y venta de madera el cual aprendió hace muchos años y gracias a la experiencia ahora es reconocido por la buena calidad de su trabajo. Debido a las grandes dificultades económicas que mantiene, y los largos procesos que debe tramitar para poder talar los árboles, Oscar encuentra grandes dificultades en su negocio para salir adelante, sin embargo siempre trabaja con cada vez más empuje y poco a poco su esposa y su hijo han podido gozar de una mejor calidad de vida. Oscar requiere un préstamo para comprar una motosierra y así poder entregar la herramienta a un empleo que va a generar, para poder responder a todos los pedidos de sus clientes.
Su sueño es poder tener su propio cultivo de árboles para talar y ya ha empezado con un pequeño cultivo de pinos. Además, aspira a poder tener mejores oportunidades económicas en su familia y una mejor calidad de vida.
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.