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Libardo
Libardo is well-known in his area for his great charisma and good will in helping other people. He is married and the father of six children to whom he has always given a good education, offering them the best he could. For approximately ten years Libardo has been buying and selling fruit and vegetables. He learned the trade while working for a company in the sector, but since he felt his job was not well paid he decided to become independent and set up his own business. Libardo buys produce from farmers near his home and then travels to the city to sell it at the markets. This way Libardo generates his own income and also helps the farmers because they have no way of transporting the goods to the city. The company that does this type of thing, which is where Libardo worked before, used to abuse the farmers. Libardo buys from the farmers on credit since he does not have enough capital to buy in cash. But he wants to change this situation because the farmers sometimes need cash to cover their own expenses. So Libardo is requesting a loan to buy fruit and vegetables in cash, which means the farmers will receive cash and improve their quality of life.

He is also hoping to improve his own quality of life since the farmers will be better off and this will benefit the region in the future. Libardo wants his children to have a better lifestyle and access to a university education. He also wants a better lifestyle for his wife and more opportunities for his family.
View original language description ↓
Libardo es una persona que es reconocida en su región por tener un gran carisma y siempre querer ofrecerles un bienestar a las demás personas. Libardo se encuentra casado y es padre de 6 hijos, a quienes siempre les brinda una buena educación y quiere ofrecerles una mejor calidad de vida. Libardo se dedica desde hace aproximadamente 10 años a la actividad de la compra y venta de frutas y verduras, actividad que aprendió trabajando para una empresa que hacía esto pero al ver que su empleo era muy mal remunerado decidió independizarse y sacar su propio negocio adelante. Libardo compra las cosechas de los agricultores de las veredas cercanas a su vivienda y luego las transporta hasta la ciudad para venderla en la plaza de mercados. De esta manera, Libardo afirma que el genera sus ingresos y a la vez le brinda una ayuda a los agricultores porque ellos no tienen como llevar sus productos hasta la ciudad, y la empresa que hace esto, para la que trabajaba Libardo, abusaba del trabajo de los Agricultores. Libardo le compra la mercancía a los agricultores a crédito, pues no cuenta con un buen capital para poderla comprar a contado, sin embargo, Libardo quiere cambiar esta situación, pues a menudo los agricultores necesitan el dinero para poder sostener sus propios gastos. Es por esto que Libardo aspira a que un préstamo le brinde la oportunidad de acceder a la compra de las frutas y verduras de contado, permitiéndoles a los agricultores recibir el dinero de contado y mejorar su calidad de vida.

Libardo espera que de esta manera tanto su calidad de vida, como la de los agricultores se vean beneficiadas y en un futuro puedan sacar en conjunto la región adelante. Libardo aspira a que sus hijos puedan gozar de una mejor calidad de vida y puedan acceder a una educación universitaria, además, quiere que su esposa pueda tener mejor calidad de vida y toda su familia mejores oportunidades de progreso.

Additional Information

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

  • $6,070
    Average annual income
  • 296
    View loans »
    Colombia Loans Fundraising
  • $13,838,275
    Funds lent in using Kiva
  • 1,795.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $900 helped Libardo to buy fruit and vegetables in cash, so the farmers receive cash and can improve their quality of life.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 27, 2012
Listed
Mar 1, 2012
Currency Exchange Loss:
Covered
Ended:
Jun 20, 2013