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John Darío
John is 50 years old and lives with his wife on a small farm that he inherited from his family. He has been engaging in farm work for more than 30 years since he was born and raised in the country. His parents taught him most of what he knows today. John currently has coffee crops that he looks after Tuesday through Friday. On the weekends, he manages a store that is located in another town in the region where he resides. The income he generates for his family comes from the sale of his harvested crops and the products that he offers in his store. John is an active, vigorous, and hardworking man who is always looking for ways to get ahead. For this reason he is requesting a loan so that he can invest in the purchase of farming supplies (compost, fungicides, and pesticides) in order to continue maintaining his crops and to achieve a more productive harvest.

The products he sells are of the best quality, so he is able to get the highest price at the market. As a result, he has more family income. John wants to continue forward with accomplishing his main goal of acquiring a larger farm so that he can expand his crops. This will help improve his family living conditions and he will be able to enjoy the fruits of his hard labor along with his wife.
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John tiene 50 años de edad y vive con su esposa en una pequeña finca que heredó de su familia. Hace más de 30 años se dedica a realizar las labores agropecuarias, pues nació y creció en el campo donde sus padres le enseñaron gran parte de lo que hoy sabe. Actualmente posee cultivos de café, los cuales cuida de Martes a Viernes y los fines de semana se dedica a atender un almacén que está ubicado en otro municipio de la región donde reside. Los ingresos que obtiene para su familia provienen de las ventas de la cosecha que recolecta y de los productos que ofrece en el almacén. El cliente es un hombre activo, pujante, trabajador y siempre busca opciones que le permitan salir adelante. Esto lo motiva para solicitar el crédito que invertirá en la compra de insumos agrícolas (abonos, fungicidas, pesticidas) para seguir cuidando los cultivos y poder sacar una cosecha más productiva, con productos de mejor calidad para que sean vendidos a mejor precio en el mercado y así tener un incremento en los ingresos familiares. Es así como John desea avanzar hacia el cumplimiento de su principal meta que es adquirir una finca más grande para ampliar sus cultivos y así seguir mejorando las condiciones de vida de su familia y disfrutar de los frutos de su ardua labor junto a 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.

Tags

About Colombia

  • $11,100
    Average annual income
  • 509
    View loans »
    Colombia Loans Fundraising
  • $14,967,675
    Funds lent in using Kiva
  • 1,937.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,050 helped John Darío to buy compost, fungicides, and pesticides.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 12, 2013
Listed
Sep 16, 2013
Currency Exchange Loss:
Covered
Ended:
Aug 30, 2014