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Estiben De Jesús
Estiben is 43 years old. He is a man who has loved the land since his infancy. He learned about cultivating the land thanks to his father, who worked all his life in agriculture. Today Estiben follows the same path on a little farm that he acquired thanks to years of work. He has plantings of coffee, and together with his wife, he works full time in this activity. Now he needs a loan to buy compost and fumigants and pay for labor, with the goal of having a quality harvest and increasing his income. He dreams of expanding his production and becoming a great exporter.
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Estiben de 43 años de edad, es un hombre amante al campo, desde su infancia. Aprendió sobre el cultivo de la tierra gracias a su padre, quien dedicó toda su vida a la agricultura. Hoy Estiben sigue los mismos pasos en una pequeña finca que adquirió gracias a años de trabajo. Tiene sembrados de café, y en conjunto con su esposa se dedica de tiempo completo a la ejecución de la actividad. En la actualidad requiere de un crédito para la compra de abono, fumigantes y mano de obra, con el fin de sacar una cosecha de calidad y aumentar los ingresos. Sueña con expandir su producción y llegar a convertirse en un gran exportador.

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.

Tags

About Colombia

  • $6,070
    Average annual income
  • 192
    View loans »
    Colombia Loans Fundraising
  • $12,868,250
    Funds lent in using Kiva
  • 1,879.7
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,075 helped Estiben De Jesús to buy compost and fumigants and pay for labor.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 29, 2013
Listed
May 28, 2013
Currency Exchange Loss:
Covered
Ended:
Sep 25, 2014