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Elkin Eladio
Elkin, 42, is separated and the father of a 10-year-old son. He has spent his working life in agriculture, thanks to his parents' training. He owns milk cows, and he sells the milk they produce in the local market. The income this generates pays for his son's and his family's basic needs and his employee's wage.

Elkin is prudent, hard working, and vigorous. He strives to provide for his son, and he has applied for a loan to buy two milk-producing cows so that he can keep his business going, increase production, and earn more. This will help him realize his dream of owning different cattle breeds, not just milk cows, by acquiring breeding stock. He will have more business opportunities and improved profit margins, which will allow him to offer his son a better education and to have a stable financial situation.
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Elkin, a sus 42 años de edad es separado y padre de 1 hijo de 10 años. Toda su vida productiva la ha dedicado a las labores agropecuarias, gracias a las enseñanzas de sus padres. Actualmente posee ganado lechero y la producción que saca, la vende en el mercado del pueblo donde reside, con lo cual genera ingresos para solventar las necesidades de su hijo y de su familia y, para el pago del empleado directo que le colabora en la labor. Elkin es un señor juicioso, trabajador y pujante, lucha constantemente para sacar adelante a su hijo, por esta razón solicita el crédito que será invertido en la compra de ganado (2 vacas productoras de leche) con el fin de continuar con su negocio, aumentando la producción del líquido y así mejorar sus ingresos, esto le permitirá avanzar hacia el cumplimiento de su sueño que es tener ganado de diferentes razas, no sólo lechero sino, complementar con ganado de levante, para tener más posibilidades de negociar y mejorar su margen de ganancia, lo que le dará la oportunidad de brindar una mejor educación a su hijo y tener una estabilidad económica favorable.

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
  • 283
    View loans »
    Colombia Loans Fundraising
  • $13,826,450
    Funds lent in using Kiva
  • 1,899.4
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,650 helped Elkin Eladio to buy two milk-producing cows.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 17, 2013
Listed
Aug 18, 2013
Currency Exchange Loss:
Covered
Ended:
Apr 17, 2014