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Juan Ricardo
Juan, age 22, has demonstrated that motivation is the crucial element to success. He cultivates flowers for a living, an activity that he learned from his parents and grandparents in the place where he now lives. This young man now sees an opportunity to expand his business, so he is requesting a loan which he will invest in building flower beds, in planting, and in the purchase of supplies in order to start a new crop of hydrangeas.
With this investment, Juan hopes to increase his production and improve the quality of his product, with the goal of being able to export it.
View original language description ↓
Juan con 22 años, ha demostrado que para salir adelante, la motivación es el principal factor de éxito. Dedicado al cultivo de flores, actividad que aprendió de sus padres y abuelos en la vereda en donde actualmente reside, este joven hoy ve una oportunidad de expandir su negocio, por lo cual se encuentra solicitando un crédito que invertirá en la construcción de las camas, la siembra y la compra de insumos, para iniciar un nuevo cultivo de hortensias.

Juan busca con dicha inversión incrementar su producción y mejorar la calidad en el producto con el fin de poder exportarlo.

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.

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About Colombia

  • $6,070
    Average annual income
  • 176
    View loans »
    Colombia Loans Fundraising
  • $13,171,600
    Funds lent in using Kiva
  • 1,887.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,875 helped Juan Ricardo to build flower beds, to plant, and to buy supplies.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 28, 2013
Listed
Jun 21, 2013
Currency Exchange Loss:
Covered
Ended:
Dec 19, 2013