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Pedro Nel
Pedro, 40, is the father of two children aged 4 and 11 and lives with his common law wife. He has been a farmer for 23 years and has crops of carrots, beans, peas and potatoes, which he grows to scale. He then harvests them and sells them to generate income to sustain his household.

"I have to work very hard because agriculture is an uncertain activity and there are various factors that put the work at risk such as black market vaccines, the high cost of agricultural supplies, the climate and the competition in the region." With these works Pedro expresses the difficulties that he has experienced, but he keeps working hard as he wants to protect his family and not allow these negative situations to affect them.

This is why he is requesting a loan to invest it in agricultural supplies (pesticides, fungicides, manure) in order to continue growing his crops and to achieve good harvests to improve his income and fulfill his dreams of increasing his crops, because he wants to offer his children a good education and a better quality of life at home.
View original language description ↓
Pedro, a sus 40 años de edad, es padre de dos hijos de 4 y 11 años y vive con su esposa en unión libre. Hace 23 años se dedica a la vida del campo y a las labores agrícolas, tiene cultivos de zanahoria, fríjol, arveja y papa los cuales son cultivados a escala, luego los cosecha y los vende para así generar ingresos para el sostenimiento de su hogar. “Hay que trabajar muy duro en el campo porque la agricultura es una actividad muy incierta y hay diversos factores que ponen en riesgo la labor, como por ejemplo las vacunas que piden los grupos al margen de la ley, los altos costos de los insumos agrícolas, el clima y la competencia que hay en toda la región” con estas palabras Pedro expresa las dificultades por las que ha pasado, pero él sigue luchando arduamente porque quiere sacar adelante a su familia y no permite que esas situaciones negativas lo afecten. Es por ello que solicita el crédito para invertirlo en la compra de insumos agrícolas (pesticidas, fungicidas, abonos) para continuar con sus cultivos y sacar buenas cosechas para así mejorar sus ingresos y poder cumplir el sueño de ampliar sus cultivos, porque quiere brindarle una buena educación a sus hijos, y mejorar la calidad de vida en su hogar.

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
  • 211
    View loans »
    Colombia Loans Fundraising
  • $12,876,400
    Funds lent in using Kiva
  • 1,875.4
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,750 helped Pedro Nel to buy agricultural supplies (pesticides, fungicides and manure).
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 18, 2013
Listed
Jul 22, 2013
Currency Exchange Loss:
Covered
Ended:
Oct 17, 2014