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Pablo
Pablo is a young 24 years old and he has resided in the countryside his entire life. He learned agricultural work and now wants to apply his knowledge and start his own agricultural business. He wants to invest in the purchase of pigs because it is considered one of the most profitable businesses in the region. In order to make this dream come true, he is seeking a loan because he doesn't have resources to begin the business on his own.

He dreams to provide his parents with better living conditions and the opportunity to enjoy their old age with dignity.
View original language description ↓
Pablo es un joven de 24 años de edad, quien ha residido en el campo toda su vida, aprendió del oficio agrícola y agropecuario, conocimientos que hoy desea aprovechar para la creación de su propia unidad productiva. Desea invertir en la compra de cerdos, ya que considera que es uno de los negocios más rentables en su localidad. Para cumplir su propósito se encuentra solicitando un crédito ya que no cuenta con recursos propios para iniciar con su proyecto de empresa.
Sueña con garantizarle a sus padres mejores condiciones de vida y la oportunidad de gozar de una vejez 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
  • 167
    View loans »
    Colombia Loans Fundraising
  • $12,834,025
    Funds lent in using Kiva
  • 1,901.2
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,075 helped Pablo to buy pigs.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 16, 2013
Listed
Jun 11, 2013
Currency Exchange Loss:
Covered
Ended:
May 22, 2014