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Jose Efrain
Jose presently makes a living in farming. He looks after pigs and milk production with some milking cows which he has in a plot of land which belongs to his wife. He learnt this activity when he was very young; when he was 15 years old his father died and Jose had to look after his seven siblings. This is why he has a lot of experience and is known for having high quality products. Thanks to the increase in his sales, his milk production is now insufficient to respond to his customer demand and so he is looking for a loan to buy two milking cows in order to increase his milk production capacity.

His dream is to have a good business with which he can get his wife and their four children ahead, providing them with a good education and a good quality of life at home.
View original language description ↓
Jose actualmente se dedica a la actividad de la agricultura donde tiene cuidado de cerdos y producción de leche con unas vacas lecheras que tiene en el terreno que es de su esposa. Esta actividad la aprendió desde que estaba muy joven, pues desde los 15 años su padre murió y a Jose le tocó hacerse cargo del cuidado de sus 7 hermanos, por esto ahora tiene una gran experiencia que le permita identificarse por tener productos de muy buena calidad. Gracias a que sus ventas han venido aumentando, su capacidad de producción de leche se está viendo insuficiente para responder a todos sus clientes, es por esto que busca un préstamo para comprar dos vacas lecheras para aumentar su capacidad de producción de leche.

Su sueño es tener un buen negocio con el cual pueda sacar adelante a su esposa y sus 4 hijos, brindándoles una buena educación y una buena calidad de vida en el hogar.

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
  • 163
    View loans »
    Colombia Loans Fundraising
  • $13,225,875
    Funds lent in using Kiva
  • 1,797.5
    Colombia Pesos (COP) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $1,675 helped Jose Efrain to buy two milking cows in order to increase his milk production capacity.
91% repaid
Repayment Term
33 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 29, 2012
Listed
Nov 1, 2012
Currency Exchange Loss:
Covered