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Nestor Eucario
Nestor is a young man who is 21 years of age. He already has extensive farming experience since his parents have been in this line of work their entire lives. They taught Nestor at a very early age. Approximately two years ago, Nestor decided to start his own business so he applied for a loan to purchase a dairy cow. He was able to generate a good income for awhile, but the cow got sick and died. He was forced to shut down his business and look for different alternatives to repay the loan he used to buy the cow.


Thanks to this experience, Nestor learned his lesson and now feels more capable of managing his own business. For this reason, he is seeking the opportunity to access a loan so that he can buy cattle and restart his business. This will help him generate his own household income so that he can support himself. As a result, Nestor will have a more secure financial future and be able to provide a better quality of life for his family.

View original language description ↓
Nestor es un joven emprendedor de 21 años de edad que ya tiene una gran experiencia en las actividades del campo, pues sus padres se han dedicado a esta actividad durante toda su vida y a Nestor se la enseñaron desde muy temprana edad. Hace aproximadamente 2 años, Nestor decidió comenzar con su propio negocio y fue así como solicitó un préstamo para la compra de una vaca lechera, la cual trabajó durante un buen tiempo e hizo que generara buenos ingresos, sin embargo, su vaca se enfermó y murió haciendo que su negocio tuviera que cerrar y tuviera que buscar diferentes alternativas para pagar el préstamo con el que compró su vaca. Gracias a esta experiencia, Nestor aprendió la lección y ahora se siente con mayores capacidades para tener su propio negocio; es por esto que busca que un préstamo le brinde la posibilidad de acceder a la compra de ganado para reiniciar su propio negocio y así generar sus propios ingresos.
De esta manera podrá contribuir económicamente en su hogar a la vez que puede progresar financieramente por su cuenta, lo que le permitirá tener un futuro económico más estable y a su familia le permitirá tener una mejor calidad de vida.

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

  • $11,100
    Average annual income
  • 495
    View loans »
    Colombia Loans Fundraising
  • $14,967,400
    Funds lent in using Kiva
  • 1,775.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $850 helped Nestor Eucario to buy cattle.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 12, 2012
Listed
May 3, 2012
Currency Exchange Loss:
Covered
Ended:
Jun 20, 2013