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Arcadio José
Arcadio, 47, has three children in his care since his wife divorced him and left. He was born and raised in the country where he learned all about farming thanks to his father who taught him to cultivate the land when he became an adult.

He now grows different varieties of yams which he sells at harvest time in the main plaza of the village where he lives. He is able to earn enough income to support his children.

Arcadio is a hard-working, responsible man who is dedicated to his family and his work. Therefore, he is requesting a loan to improve his harvest and get a better market price so he can increase his income and continue putting food on the table. He dreams of having a lot of cropland where he can offer employment and improve his economic stability to give his children an excellent education and better lifestyle.
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Arcadio, a sus 47 años de edad es padre de 3 hijos y está separado, ya que su pareja lo abandonó, dejándolo a cargo de sus hijos. Nació y se crió en el campo, donde aprendió todas las labores de agricultura, gracias a su padre, quien le enseñó a cultivar tierras cuando cumplió la mayoría de edad. Actualmente posee cultivos de varias especies de ñame y cuando recoge la cosecha, va a venderla a la plaza del pueblo donde reside y, de esta manera ha obtenido los ingresos necesarios para darle el sustento a sus hijos. Arcadio es un hombre trabajador, pujante y dedicado a su familia y a su labor por ello solicita el crédito, para invertirlo en la compra de insumos agrícolas (abonos, fungicidas, fertilizantes), con el fin de darle continuidad al cuidado de sus cultivos y poder sacar una mejor cosecha, que pueda vender a un mejor precio en el mercado y así aumentar los ingresos para seguir llevando el alimento a su hogar. Arcadio sueña con tener muchas tierras con cultivos, que le permita ofrecer oportunidades de empleo y mejore la estabilidad económica para brindarle a sus hijos una excelente educación y mejor calidad de vida.

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
  • 500
    View loans »
    Colombia Loans Fundraising
  • $15,254,800
    Funds lent in using Kiva
  • 1,891.9
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Arcadio José to buy farm supplies (fertilizers and fungicides).
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 25, 2013
Listed
Jul 29, 2013
Currency Exchange Loss:
Covered
Ended:
Jun 17, 2014