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Fernando
Fernando is a farmer in east Antioquia. He’s been a dairy farmer for more than 30 years. This economic activity has made it possible for him and his family to move forward; his family consists of his wife and four children.

At the age of 61, Fernando wants to have a larger herd of cattle so his income will increase and he will be able this way to provide better quality of life for his family which is why he’s asking for a loan to buy a dairy cow.
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Fernando, es productor agropecuario en el oriente Antioqueño. Dedicado a la lechería desde hace más de 30 años, como actividad económica, la cual le ha permitido salir adelante con la compañía de su familia compuesta por su esposa y sus cuatro hijos.
A sus 61 años de edad el señor Fernando desea tener un mayor número de ganado que le permita aumentar sus ingresos y de esta manera brindarle a su familia una mejor calidad de vida. Razón por la que se encuentra solicitando un crédito que invertirá en la compra de una vaca productora de leche.

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
  • 494
    View loans »
    Colombia Loans Fundraising
  • $15,254,800
    Funds lent in using Kiva
  • 1,887.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,075 helped Fernando to buy a dairy cow.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 29, 2013
Listed
Jul 18, 2013
Currency Exchange Loss:
Covered
Ended:
Aug 21, 2015