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Argemiro
At 58 years old Argemiro stills works hard at his bean and tomato plants every day in order to help his family prosper. His crops are on a small plot of land that he owns. In recent months Argemiro has had difficulties as the winter has severely affected his crops and he has not had the yield he was hoping for. Consequently, he needs to buy manure and irrigation tools that will allow him to recover his crops and his family's quality of life. Argemiro is hopeful that he can improve his crops and provide his family with what they need to live. To help with the crops, he is applying for a loan in order to buy farming supplies and seeds.
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Argemiro a sus 58 años de edad, trabaja día a día arduamente para sacar adelante a su familia en su cultivo de fríjol y tomate, ubicado en un pequeño lote de su propiedad. En los últimos meses, ha presentado dificultades puesto que el invierno ha afectado en gran proporción su cultivo y no ha podido sacar la producción que esperaba, para lo cual necesita de la compra de abonos y riegos que le permitan recuperar su cultivo y la calidad de vida de su familia. Argemiro tiene la esperanza de mejorar su cultivo y brindarle lo necesario para vivir a su familia, por lo cual se encuentra solicitando un crédito para la compra de insumos agrícolas y semillas.

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

  • $11,100
    Average annual income
  • 504
    View loans »
    Colombia Loans Fundraising
  • $15,250,425
    Funds lent in using Kiva
  • 1,899.4
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped Argemiro to buy farming supplies and seeds.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 23, 2013
Listed
Jun 8, 2013
Currency Exchange Loss:
Covered
Ended:
May 22, 2014