Albeiro De Jesus
Update on Albeiro De JesusAlbeiro, 41, has dedicated most of his life to farming, which generates an income to sustain his family and to pay for the education of his nieces and nephews. He loves his work because he is convinced that it is one of the most important jobs for the development of his country, even though there are few values and sometimes the sale prices are too low to compensate for his labor.
With many dreams to accomplish and full of motivation to get up every day and start working, Albeiro would like to increase his production of potatoes and beans in order to improve his income. He has applied for a loan to buy farm supplies, with the goal of achieving excellent production. This will provide him with an income to guarantee a better quality of life for his family.
Con mil sueños por cumplir y llenos de motivos para levantarse diariamente a comenzar su faena, Albeiro desea poder incrementar su producción en la siembra de papa capira y fríjol, con el fin de aumentar sus ingresos.
Se encuentra solicitando un crédito para la compra de insumos agrícolas con el fin de sacar una excelente producción que le proporcione ganancias a fin de garantizarle a su familia una mejor calidad de vida.
Previous Loan DetailsAlberio is 40 years old and the father of 10 children, ages 17, 14, 13, 12, 10, 8, 5, 4, 2 and 3 months. He works arduously on his own potato, pea, and bean crop to move his grand family ahead. The crops are on his farm on a Sonson veranda, located north of Antioquina. In the past few months… More from Albeiro De Jesus's previous loan »
Important InformationThis 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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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