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Francisco Javier

Update on Francisco Javier

Francisco is a farmer from a small community in the municipality of Sonsón, Antioquia. He has been working in agriculture and cattle rearing since he was young. He is currently growing Andean potatoes and tamarillo, and he has two dairy cows. He is requesting a loan to buy a cow so that he can increase milk production which he will sell to his neighbors. In this way, he will be able to improve the quality of life of his close family and guarantee an education for his four young children. His dream is to help his family progress in life and for them to remain united.
View original language description ↓
Francisco es un campesino de una vereda del municipio de Sonsón, Antioquia. Se dedica a la agricultura y ganadería desde su juventud. En la actualidad tiene sembrados de papa criolla y tomate de árbol y cuenta con dos vacas lecheras. Hoy se encuentra solicitando un crédito que invertirá en la compra de una vaca con el fin de aumentar la producción de leche la cual comercializa entre sus vecinos, mejorando así la calidad de vida de su núcleo familiar y garantizándoles a sus cuatro hijos menores de edad una buena educción. Sueña con sacar adelante a su familia y permanecer siempre en unidad.

Previous Loan Details

Francisco, 48, works in agriculture and lives in a small community located in the municipality of Sonsón, Colombia. He lives with his wife and four children, two of them underage. Francisco works every day from 5 am to 4 pm, in a farm that belongs to the family. He is currently growing papa criol... More from Francisco Javier's previous loan »

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.

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.

About Colombia

  • $11,100
    Average annual income
  • 372
    View loans »
    Colombia Loans Fundraising
  • $15,691,700
    Funds lent in using Kiva
  • 1,878.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,075 helped Francisco Javier to buy a cow.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Apr 26, 2013
May 27, 2013
Currency Exchange Loss:
Nov 17, 2014
This photo was used before for a previous loan for Francisco Javier. It was first posted on Kiva on Mar, 2013. Learn More