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Carlos Miguel
Carlos, who is 35 years old, is single and does not have children. He was born and raised in the field, where he learned farming, which is a family tradition.

Since he began his working life, he has made his living working as a day laborer on different farms in the town where he lives. With this, he has obtained experience and a lot of knowledge in crop handling. Thanks to this, today he has crops of yams and corn, activities which alternates with his present employment at a farm.

The crops are located in land on his property which was given to him as a family heritage. Carlos is a strong, hard-working and active man who strives to reach his objectives. This motivates him to ask for the loan to invest in the purchase of agricultural inputs (composts, fertilizers, fungicides, and others) which are necessary to give continuity in the care of his crops.

This will allow him to have a harvest with better quality products which will be able to be sold at a good price in the market, which will be reflected in the increase in his production and his income.

Additionally, it will give him more hope of getting to meet one of his main dreams, which is to increase his crops so that they provide him with economic stability. He wishes to form a family in the near future and wants to have a business which is profitable and sustainable over time to be able to provide good living conditions to his future family.
View original language description ↓
Carlos, con 35 años de edad, es soltero y aún no tiene hijos. Nació y creció en el campo, donde aprendió las labores agrícolas, pues es una tradición familiar. Desde que comenzó su vida productiva, se ha dedicado a laborar como jornalero en diferentes fincas del municipio donde reside, con lo cual ha obtenido experiencia y muchos conocimientos en el manejo de cultivos; gracias a ello, hoy en día posee cultivos de ñame y maíz, actividad que alterna con su empleo actual en una finca. Los cultivos están ubicados en un terreno de su propiedad que le quedó de una herencia familiar. Carlos es un hombre pujante, trabajador y activo, se esmera para lograr sus objetivos. Esto lo motiva a solicitar el crédito para invertirlo en la compra de insumos agrícolas (abonos, fertilizante, fungicidas, entre otros), que son necesarios para darle continuidad al cuidado de sus cultivos, esto le permitirá tener una cosecha con productos de mejor calidad, que podrán ser vendidos a un buen precio en el mercado, lo que se verá reflejado en el aumento de su producción y sus ingresos; adicionalmente le da más esperanzas de llegar a cumplir uno de sus principales sueños, que es ampliar sus cultivos para que le brinden una estabilidad económica favorable, ya que desea formar una familia en un futuro cercano y quisiera tener un negocio rentable y sostenible en el tiempo, para poder brindar buenas condiciones de vida a su futura familia.

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
  • 563
    View loans »
    Colombia Loans Fundraising
  • $14,702,900
    Funds lent in using Kiva
  • 1,917.8
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $375 helped Carlos Miguel to buy agricultural inputs, such as compost, fertilizer, fungicide, and others.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 24, 2013
Listed
Aug 26, 2013
Currency Exchange Loss:
Covered
Ended:
Jul 17, 2014