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Jairo Alberto
Jairo, a 45-year-old man, is the father of a 4-year-old boy and lives with his common-law wife. He was born and raised in a rural, humble, and hard-working family. His father taught him the labors of the country from the time he was a child. Thanks to this knowledge and experience, he currently works in agriculture and owns coffee and sugar cane fields. He sells the products that he harvests in the marketplace in the municipality where he lives. This is how he earns the economic resources necessary to cover the basic expenses of his household.

Jairo is a thriving, energetic, entrepreneurial man who is always looking for new opportunities to get ahead. This motivated him to seek a loan that he will invest in the purchase of agricultural supplies (fungicides, herbicides, manure, and fertilizers). This way, he will be able to continue his business and fertilize the coffee fields to prepare them for harvest and obtain better results and high-quality products that he can sell at a higher price in the market. This will increase his profit margin and his family's income.

Jairo dreams of continuing his business, working hard to increase his harvest and take advantage of the available land so that he can increase production and guarantee economic stability and well-being for his son and his wife.
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Jairo, a sus 45 años de edad es padre de un hijo de 4 años y vive en unión libre con su pareja. Nació y creció en una familia campesina, humilde y trabajadora, aprendió las labores del campo por las enseñanzas de su padre desde que era un niño; gracias a todos estos conocimientos y experiencia, hoy en día se dedica a la agricultura y posee cultivos de café y caña de azúcar, lo que se cosecha es vendido en la plaza de mercado del municipio donde reside y así ha generado los recursos económicos necesarios para solventar los gastos básicos en su hogar. El cliente es un hombre pujante, enérgico y tiene un espíritu emprendedor que lo lleva siempre a buscar nuevas oportunidades para salir adelante. Esto lo motiva a solicitar el crédito que invertirá en la compra de insumos agrícolas (fungicidas, herbicidas, abonos y fertilizantes) de esta forma, podrá darle continuidad a su actividad y abonará los cultivos de café para prepararlos para la cosecha y así tener una producción de mejores resultados, con productos de buena calidad que permitan ser vendidos a un mejor precio en el mercado, para aumentar el margen de ganancia y los ingresos familiares. De esta manera, Jairo sueña con continuar su negocio, trabajando arduamente para poder ampliar sus cultivos y así aprovechar el terreno que tiene disponible, con lo que podrá incrementar su producción, garantizando así, una mejor estabilidad económica y bienestar para su hijo y su esposa.

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
  • 304
    View loans »
    Colombia Loans Fundraising
  • $13,796,725
    Funds lent in using Kiva
  • 1,932.2
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $1,150 helped Jairo Alberto to buy agricultural supplies (fungicides, herbicides, manure, and fertilizers).
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 2, 2013
Listed
Sep 3, 2013
Currency Exchange Loss:
Covered
Expired:
Oct 3, 2013