Faustino


Status: Paying Back

$850.00   Loan Amount
0% repaid

About the Entrepreneur

(For privacy reasons, the Field Partner has requested that last name be undisclosed)
Name: Faustino
Location: Tarma, Peru
Activity: Agriculture

About the Loan

Loan Amount: $850.00
Loan Use: To buy fertilizers
Repayment Term: 8 months - View details below
Lenders Repaid: At end of term
Currency Exchange Loss: Possible
Date Listed: Aug 7, 2009
Date Disbursed: Jul 7, 2009
Date Funded:Aug 10, 2009

About the Country

Country:Peru
Avg Annual Income:$6,715.00
Currency:Peru Nuevos Soles (PEN)
Exchange Rate:2.9500 PEN = 1 USD



Faustino is 50 years old, is a very responsible and hard-working man, and lives with the mother of his 5 children, of whom the oldest passed away from cancer and now the 4 younger children are living in their own house. After the death of his daughter, he had an accident, in which he fractured his right foot, and for a few months, he needed to use crutches. During this time, he felt impotent because he couldn’t help his family in their agricultural work. Now, however, he has recovered and has returned to growing lettuce and spinach in his irrigated fields and potatoes in the high-altitude fields, where, walking quickly, he can arrive in 2 hours. Because of this, in the harvest season, transporting the products is very difficult. Faustino is very happy to dedicate himself to his own crops and, moreover, they are very profitable. With these earnings, he was able to cover the medical costs for the treatment of his daughter. He told us that spinach is the product that generates the highest earnings in the least time. Because of this, he can recover his money quickly. This is his fifth loan with MFP and during these cycles, he has led responsibly, since he is the president of his community bank. The money that he is now requesting is to buy chemical fertilizers to improve his various crops. He will also buy pesticides to eliminate the pests.

Translated from Spanish by Avni Shah, Kiva Volunteer


Faustino tiene 50 años, es un hombre muy responsable y trabajador, vive con la madre de sus 5 hijos, de los cuales la mayor falleció enferma de cáncer y ahora vive con los 4 menores en su casa propia. Después de la muerte de su hija tuvo un accidente donde se fracturó su pie derecho y algunos meses requirió del apoyo de muletas, tiempo donde se sentía impotente de no poder ayudar a su familia en las labores agrícolas. Pero ahora, ya se ha recuperado y ha vuelto a sembrar lechugas, y espinacas en sus chacras de regadío, y papas en las chacras que tiene en zonas altas, donde caminado rápido, llega en 2 horas, por lo que en temporada de cosecha el traslado de los productos es muy dificultoso. Faustino está muy contento de dedicarse a sus propios cultivos y además le son muy rentables, pues con esas ganancias podía cubrir los medicamentos costosos del tratamiento de su hija en vida. Él nos comenta que son las espinacas el producto que le genera mejores ganancias en menor tiempo, permitiéndole así, recuperar su dinero rápidamente. Este es su quinto crédito con MFP y durante estos ciclos ha liderado en la responsabilidad, ya que es el presidente de su banco comunal. El dinero que ahora solicita es para la compra de fertilizantes químicos para el abonado de sus diversos cultivos, también comprará funguicidas para erradicar las mosquitas.

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Journal entries for Faustino


Loan has been disbursed
 
Entrepreneur: Faustino
Location: Tarma, Peru

Thank you for your loan. It has been disbursed to Faustino by Microfinanzas PRISMA in Peru. We are excited to watch this business grow. Over the 5 months of this loan, Microfinanzas PRISMA will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Tarma, Peru
Aug 11, 2009
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Kiva Help Repayment Schedule for Faustino

  Expected Repayments Actual Repayments Comments
March 2010 $850.00 Available Mar 1