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María Norela
Norela is 44 years old. She is married and has three children. She was born and raised in the country and this is the reason she has extensive knowledge of agricultural work. Currently, she has some heads of dairy cattle that she milks. She sells the milk in the market square of the town where she lives. In addition, she compliments this activity with the breeding and care of pigs and chickens. In this way, she increases her income and is able to contribute to the support of her household. Norela is enterprising, sensible, and dedicated to her family. Her husband and her children are the main reason for getting up every day to work and seek new opportunities to succeed. For this reason she is requesting the loan, with the goal of investing in the purchase of two more dairy cows. In this way, she will increase milk production and be able to sell it at a better price at the market. This will open up more possibilities to her and enable her to fulfill her dream of having her own farm where she can better provide for her children’s welfare and favorable financial stability so that they will have a more prosperous future.
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Norela, con 44 años de edad, es una mujer casada y madre de 3 hijos. Nació y se crió en el campo, razón por la cual tiene amplios conocimientos en las labores agropecuarias. Actualmente posee algunas cabezas de ganado lechero al cual ordeña para vender la producción de leche en la plaza de mercado del municipio donde reside, adicionalmente complementa esta actividad, con la cría y cuidado de cerdos y pollos, aumentando así sus ingresos para poder contribuir al sostenimiento de su hogar. Norela es una persona emprendedora, juiciosa y dedicada a su familia; su esposo y sus hijos son la principal motivación para levantarse todos los días a trabajar y a buscar nuevas oportunidades de salir adelante. Por eso solicita el crédito, con el fin de invertirlo en la compra de más vacas productoras de leche (2 vacas), de esta forma aumentará la producción del líquido y podrá venderlo a un mejor precio en el mercado. Esto le abrirá más posibilidades para lograr cumplir el sueño de tener una finca propia, donde le pueda brindar un mejor bienestar a sus hijos y una estabilidad económica favorable para que tengan un futuro más próspero.

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
  • 280
    View loans »
    Colombia Loans Fundraising
  • $13,826,450
    Funds lent in using Kiva
  • 1,880.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,600 helped María Norela to purchase two more dairy cows.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 24, 2013
Listed
Jul 26, 2013
Currency Exchange Loss:
Covered
Ended:
Jun 17, 2014