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Jose Otoniel
At 42 years old, Otoniel is the father of 6 young children.
He's been a farmer for 20 years, activity that he learned as family tradition, today this his only source of income for the support and education of his children.
He works hard to earn the daily bread. For the last several years he's been producing and raising pigs, he considers this a profitable business. He is now requesting a loan to invest in buying pigs with the goal to increase his income and improve his economic condition. He dreams with buying a house and improve the quality of life of his home. He assures that his main motivation is his family, who he takes care of, so that they enjoy a dignified life.
View original language description ↓
Otoniel a sus 42 años es padre de seis hijos de los cuales cinco son menores de edad.
Se dedica a la agricultura desde hace 20 años, actividad que aprendió por tradición familiar y hoy es su única fuente de ingresos para el sostenimiento y educación de sus hijos.
Labora arduamente para conseguir el pan diario. Desde hace algunos años se dedica al engorde y cría de cerdos, ya que considera que es un trabajo rentable. En la actualidad se encuentra solicitando un crédito que invertirá en la compra cerdos con el fin de aumentar sus ingresos y mejorar su condición económica. Sueña con comprar una vivienda y mejorar la calidad de vida en su hogar.
Asegura que su mayor motivación es su familia, por la cual vela a fin de que gocen de una vida digna.

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
  • 268
    View loans »
    Colombia Loans Fundraising
  • $13,343,550
    Funds lent in using Kiva
  • 1,899.4
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $1,075 helped Jose Otoniel to buy pigs.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 17, 2013
Listed
Jun 8, 2013
Currency Exchange Loss:
Covered
Expired:
Jul 8, 2013