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José Jair
José is 22 years old, and was born into a rural family of modest means. From a young age, he learned how to do agricultural activities by watching his father at work. Today, he owns one dairy cow, which produces several liters of milk which are sold to his friends and neighbors in the area in which he lives.

José is an active young man, with an enterprising and wise spirit. He is very ambitious, which is why he has decided to request a loan to buy two more dairy cows to increase his daily output and increase the income he receives for selling milk. In this way, he can continue to help his family with their financial burden. The loan will also offer him the chance to keep fighting to achieve his medium-term dream of establishing a milk-producing business, so that he can offer jobs to others and improve his family's quality of life.
View original language description ↓
José tiene 22 años de edad, nació en una familia campesina, humilde y trabajadora y desde que era pequeño conoció las actividades agropecuarias mientras veía trabajar a su padre. Actualmente posee una vaca lechera, la cual produce varios litros de líquido que son vendidos entre los amigos y vecinos del sector donde reside. El cliente es un joven activo, con un espíritu emprendedor, juicioso y tiene muchas ganas de salir adelante, por esta razón se motiva para solicitar el apoyo del crédito, pues desea comprar 2 vacas más para aumentar su producción diaria y mejorar los ingresos que recibe por la venta del líquido. De esta forma podrá seguir ayudando a su familia con la carga económica y le dará la posibilidad de seguir luchando para alcanzar el sueño de tener una empresa productora de leche a mediano plazo, que le permita ofrecer oportunidades de empleo y mejorar la calidad de vida de su núcleo familiar.

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
  • 307
    View loans »
    Colombia Loans Fundraising
  • $13,867,525
    Funds lent in using Kiva
  • 1,945.5
    Colombia Pesos (COP) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $1,050 helped José Jair to buy two dairy cows.
73% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 31, 2013
Listed
Sep 3, 2013
Currency Exchange Loss:
Covered