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Rigoberto De Jesús
Rigoberto, who is 58 years old, is married and has ten children. He has spent his whole life in the fields, where he learned how to farm thanks to his family's teachings and tradition. Today he owns the farm where he lives, since he inherited it from his parents. He grows sugar cane and coffee beans, and after the crops are harvested he sells them at the market square in the town where he resides.

This client is a vigorous and hard working gentleman who strives to provide for his family. He overcomes the financial hurdles that arise, for there have been times when he didn't have the capital to purchase the supplies he needs to care for his crops, which has caused losses of harvest. That is why he has decided to request this loan, which will be invested in purchasing fertilizers, irrigation supplies, pesticides, and fungicides to keep caring for his crops and obtain higher quality harvests. This will allow him to sell his products at the market at a higher price, which will result in higher income. This way Rigoberto will be in a position to offer his family better living conditions and wellbeing. He will also be able to give his younger children the chance to have an excellent education so that they can have a more successful and promising future.
View original language description ↓
Rigoberto, a sus 58 años de edad, es casado y padre de diez hijos. Toda la vida la ha pasado en el campo, donde aprendió las labores agrícolas gracias a las enseñanzas y a la tradición de su familia. Hoy en día es propietario de la finca donde reside, ya que fue la herencia que le dejaron sus padres, allí posee cultivos de caña y café, cuya cosecha es recolectada y vendida en la plaza de mercado del pueblo donde reside. El cliente es un señor pujante y trabajador, se esmera por sacar adelante su familia, sobrepasando obstáculos que se le presentan a nivel económico porque en ocasiones no ha tenido el capital para comprar los insumos que requiere para el cuidado de sus cultivos, lo que le ha ocasionado pérdidas de cosecha. Es por esto que se motiva a solicitar el crédito, que será invertido en la compra de abonos, riegos, pesticidas, fertilizantes y fungicidas para continuar cuidando sus cultivos y obtener cosechas de mayor calidad; de esta manera podrá vender los productos a mejor precio en el mercado, lo que dará como resultado el incremento en sus ingresos. Así Rigoberto estará en la capacidad de brindar a su familia, mejores condiciones de vida y bienestar, además podrá dar a sus hijos menores la posibilidad de una excelente educación para que tengan un futuro más exitoso y prometedor.

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
  • 306
    View loans »
    Colombia Loans Fundraising
  • $13,867,525
    Funds lent in using Kiva
  • 1,915.7
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped Rigoberto De Jesús to buy fertilizer, irrigation supplies, pesticides, and fungicides wholesale.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 26, 2013
Listed
Aug 27, 2013
Currency Exchange Loss:
Covered
Ended:
Jun 17, 2014