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Jaime
Jaime, 50, is married with five children. He’s spent his entire life in the countryside where he learned agriculture and animal husbandry activities from his father. He currently works in agriculture growing peas, beans, potatoes and corn. To earn income he sells his crops in the town square where he lives. In this way he’s succeeded in moving his children and wife forward.

Jaime is a very hardworking, active, driven man who is passionate about his family and his work. He’s always in search of options that will lead to progress. Because of this, he’s requested a loan to buy five calves (cattle-raising) because he wants to alternate cattle-raising with his current agricultural work. He’s already leased a lot to do so.

This will allow him to earn higher income to continue meeting his household needs. He’ll also be able to continue advancing towards reaching his greatest dream which is to buy pasture land to continue with this activity and save what he currently pays to lease it for his businesses. Thus, in the near future he’ll be able to improve his family’s quality of life and to give his children the opportunity of having an excellent education.
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Jaime, con 50 años de edad, es casado y tiene 5 hijos. Toda su vida la ha pasado en el campo, donde aprendió las actividades agropecuarias gracias a las enseñanzas de su padre. Actualmente se dedica a la actividad agrícola, pues posee cultivos de arveja, fríjol, papa y maíz; para conseguir los recursos económicos, él vende las cosechas en la plaza del pueblo donde reside; de esta forma ha logrado sacar adelante a sus hijos y a su esposa. Jaime es un señor muy activo, luchador, pujante y apasionado por su familia y su labor, siempre va en busca de opciones que le permitan progresar. Por esto solicita el crédito, con el fin de invertirlo en la compra de 5 novillones (ganado de levante), ya que desea alternar su actividad actual de agricultor, con la ganadería de levante, para lo cual ya arrendó un lote; esto le permitirá obtener mayores ingresos para continuar sustentando las necesidades básicas de su hogar. Además podrá seguir avanzando hacia el cumplimiento de su mayor sueño que es comprar un potrero para continuar con esta actividad y así ahorrarse el dinero que paga por el arriendo para invertirlo en sus negocios, así, en un futuro cercano, podrá brindar mejor calidad de vida a su familia y dar la oportunidad a sus hijos de tener una excelente educación.

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
  • 136
    View loans »
    Colombia Loans Fundraising
  • $12,811,350
    Funds lent in using Kiva
  • 1,897.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped Jaime to buy five calves.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 5, 2013
Listed
Aug 2, 2013
Currency Exchange Loss:
Covered
Ended:
Feb 20, 2015