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Carlos Fernándo
Carlos, age 52, is a man who is full of life and has a great desire to offer his 13-year-old child a good education and better opportunities. He currently has a medicinal plant business where he works every day to generate an income to maintain his household.
One of his greatest desires is to learn more about processing and conserving fruits. His goal is to maximize his benefits from the harvest of his family farm and to generate an additional income. For this reason, he is requesting a loan because he does not have the resources to make this investment.
View original language description ↓
Carlos de 52 años de edad, es un hombre lleno de vida y con grandes deseos de brindarle a su hijo de 13 años de edad una buena educación y mejores oportunidades. En la actualidad cuenta con un negocio de plantas medicinales, en el cual labora diariamente, generando los ingresos para el sostenimiento de su hogar.
Uno de sus mayores deseos es aprender sobre el procesamiento y conserva de frutas, con el fin de aprovechar al máximo las cosechas que se producen en la finca de su familia y generar un valor agregado. Razón por la cual, solicita un crédito ya que no cuenta con los recursos para realizar dicha inversión.

Additional Information

More information about this loan

This loan is part of Interactuar's effort to being innovative and high-quality non-financial products to more borrowers.

In addition to credit, the organization provides training in business management, gastronomy, tourism, marketing, design, sales, and other areas. It also advises borrowers on their new and existing businesses, and its food laboratory helps farmers increase their crop yields. Together, all of these services help borrowers gain new skills and optimize their businesses.

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
  • 262
    View loans »
    Colombia Loans Fundraising
  • $13,343,550
    Funds lent in using Kiva
  • 1,887.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $200 helped Carlos Fernándo to get training in processing and conserving fruits.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 24, 2013
Listed
Jun 21, 2013
Currency Exchange Loss:
Covered
Ended:
Jan 18, 2014