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Fermín Antonio
Fermín is 58 years old, married, and father of 2 children. During his productive life he has had many years of experience in a vegetable store but her retired 2 years ago and made the decision to work independently and obtain his own support. Thus through a friend, he learned about the fumigation business, which which he has supported himself today and he works when he is contracted. He is a friendly gentleman, responsible, sensible, and devoted to family. For this reason he seeks a loan to buy supplies for work (poisons, insecticides, pesticides) and to improve the vehicle he uses to make service calls. Fermín has the support of an employee, but he dreams of growing his business and being able to provide more job opportunities; in addition he wishes to offer his family and his children a better quality of life.
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Fermín, a sus 58 años de edad es casado y padre de 2 hijos. Durante su vida productiva ha tenido experiencia laborando en una legumbrería durante muchos años, pero se retiró y hace 2 años tomó la decisión de independizarse y conseguir el sustento por cuenta propia, fue así como por medio de un amigo, aprendió la labor de fumigación, con la cual ha subsistido actualmente y labora en el tiempo en el que lo contratan. El titular es un señor amable, responsable, juicioso y entregado a su familia; por esta razón solicita el crédito, con el fin de invertirlo en la compra de insumos de trabajo (venenos, pesticidas, plaguicidas) y además desea mejorar el vehículo en el en que se transporta para realizar los domicilios. Fermín cuenta con el apoyo de un empleado, pero sueña con hacer crecer su negocio y poder brindar más oportunidades laborales, además desea ofrecer a su familia y a sus hijos, una mejor calidad de vida.

Additional Information

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
  • 552
    View loans »
    Colombia Loans Fundraising
  • $14,918,625
    Funds lent in using Kiva
  • 1,886.3
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $1,600 helped Fermín Antonio to buy supplies for work (poisons, insecticides, pesticides) and to improve his vehicle.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 29, 2013
Listed
Jul 31, 2013
Currency Exchange Loss:
Covered
Expired:
Aug 30, 2013