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Carlos Arturo
Carlos is 59 years old and works in agriculture. Currently, he cultivates beans and peas on land owned by his family. He has many years of experience in this job, as his family does the same work.

Now, Carlos is requesting a loan with the goal of investing in the purchase of fertilizer, insecticide, and fungicide in order to improve his harvest and increase his earnings. He dreams of being able to offer his family a better quality of live and to improve the house where they live.
View original language description ↓
Carlos a sus 59 años de edad, se dedica a la agricultura. Actualmente tiene cultivos de fríjol y arveja en terrenos de propiedad familiar. Cuenta con muchos años de experiencia en el oficio puesto que su familia se ha dedicado a la misma actividad.
Actualmente, el señor Carlos se encuentra solicitando un crédito con el fin de invertir en la compra de abonos, insecticidas y fungicidas para mejorar su cosecha y aumentar sus ingresos. Sueña con poder brindarle a su familia una mejor calida de vida y mejorar la vivienda en la que reside.

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
  • 176
    View loans »
    Colombia Loans Fundraising
  • $13,090,925
    Funds lent in using Kiva
  • 1,899.4
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $325 helped Carlos Arturo to purchase fertilizer, insecticide, and fungicide.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 10, 2013
Listed
Jun 8, 2013
Currency Exchange Loss:
Covered
Ended:
Nov 17, 2014