Fortunato


Status: Paying Back

$1,025.00   Loan Amount
0% repaid

About the Entrepreneur

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

About the Loan

Loan Amount: $1,025.00
Loan Use: Purchase fertilizers
Repayment Term: 10 months - View details below
Lenders Repaid: At end of term
Currency Exchange Loss: Possible
Date Listed: Aug 29, 2009
Date Disbursed: Aug 21, 2009
Date Funded:Aug 29, 2009

About the Country

Country:Peru
Avg Annual Income:$6,715.00
Currency:Peru Nuevos Soles (PEN)
Exchange Rate:2.9600 PEN = 1 USD



At 65 years of age, Fortunato works with remarkable energy. He is married, lives in his own home, and is the father of 4 children who live elsewhere. He has dedicated his entire life to agriculture and has the satisfaction of knowing that none of his crops have ever failed. This was how he was able to provide his children with an education that enabled them to develop into good people, and not become financially dependent on him.


Fortunato, despite his age, has no intentions to quit farming. To the contrary, he plans to keep on planting and harvesting his crops. The thought that he may not be able to continue farming fills him with sadness and makes him physically ill. He continues to plant potatoes, ulloco, and peas. His crops are sold at the wholesale market in Tarma, where buyers will pay between 40 to 60 soles per bag depending on the size and variety. After all the sacks of produce are sold, Fortunato and his wife (whom he affectionately calls “mi viejita adora”) return home.


Fortunato is taking his fourth loan with MFP and promises to make his payments on time. He is grateful for the opportunity to be part of a Communal Bank because all the members support and help one another. He will use the money he requested to purchase chemical fertilizers for his potato crops.

Translated from Spanish by Ronan Reodica, Kiva Volunteer


A sus 65 años, Fortunato trabaja con una fuerza muy notable, vive en su casa propia, es casado y padre de 4 hijos, quienes viven fuera. Durante toda su vida se dedicó a la agricultura y tiene la satisfacción de que sus siembras nunca le fallaron. Es por eso que pudo educar a sus hijos para que sean personas de bien, sin depender económicamente de él. Pero a pesar de su edad, Fortunato no piensa dejar sus chacras, por el contrario, quiere seguir sembrando, porque cuando no lo hace; se llena de tristeza y se enferma. Por ello, sigue sembrando papa, olluco y arvejas, los que comercializa en el mercado más importante de la ciudad de Tarma (conocido como “El mayorista”), donde los compradores le pagan por cada saco de producto entre 40 y 60 soles dependiendo del tamaño y la variedad. Una vez terminada la venta de todos sus sacos, acompañado de su esposa, a quien llama “su viejita adora” regresan a su casa. Fortunato se compromete a pagar puntualmente este cuarto crédito que solicita a MFP, donde siendo para de un banco comunal muestra su agradecimiento a todos sus compañeros por el apoyo que le brindas, pues todos se ayudan mutuamente. Con el dinero que ahora requiere comprará fertilizantes químicos para sus cultivos de papa.

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Journal entries for Fortunato


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

Thank you for your loan. It has been disbursed to Fortunato by Microfinanzas Prisma in Peru. We are excited to watch this business grow. Over the 7 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 30, 2009
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Kiva Help Repayment Schedule for Fortunato

  Expected Repayments Actual Repayments Comments
June 2010 $1,025.00 Available Jun 1