Check out some available loans that are similar to this one!
Faber Alonso
Faber has been a farmer since he was eight years old. He was taught how to farm by his older brother. He is 25 years old now and continues working in this area, which has now become his main source of income. He currently has Andean potato and maize crops, products that he sells at the local market. He is passionate about cattle rearing and wants to be able to carry out both agriculture and cattle rearing. For this reason, he is requesting a loan to invest in the purchase of a dairy cow. He is sure that this investment will allow him to improve the quality of life of his close family.
View original language description ↓
Faber es agricultor desde la edad de ocho años, actividad que aprendió de su hermano mayor.
Hoy a sus 25 años sigue dedicado a esta actividad, la cual se ha convertido en su fuente de ingresos para su sostenimiento.
En la actualidad tiene sembrados de papa criolla y maíz, productos que comercializa en el mercado del pueblo. Asegura que una de sus grandes pasiones es la ganadería, por lo cual desea alternar las dos actividades y para ello se encuentra solicitando un crédito que invertirá en la compra de una vaca lechera. Asegura que esta inversión le permitirá mejorar la calidad de vida de su núcleo familiar.

Additional Information

More information about this loan


By funding this loan, you are promoting entrepreneurship in remote regions, including areas recovering from guerilla warfare in Colombia, and helping to reverse the rural exodus which occurred in the past decades when a the rural population fled their countryside homes for the safer cities.

This Kiva loan was created by Kiva's field partner Interactuar specifically for Kiva funding, in an effort to reach more borrowers in rural areas. Most of the Interactuar's lending operations are focused in urban parts of Medellin. But this loan product is designed to provide working capital to riskier agricultural businesses who have been traditionally excluded from the finance sector.

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
  • 191
    View loans »
    Colombia Loans Fundraising
  • $13,090,925
    Funds lent in using Kiva
  • 1,878.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,350 helped Faber Alonso to buy a dairy cow.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 26, 2013
Listed
May 27, 2013
Currency Exchange Loss:
Covered
Ended:
Nov 17, 2014