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Franciney
Franciney, who is 41 years old, is the father of three children and lives in a common law marriage with his partner. Nine years ago, he began to cultivate goldenrod flowers, which he sells to different flower marketers in the region. He counts on the support of a full-time employee and another person who works one day per week.

He has spent his whole career in agriculture. He has grown many different products but, due to the low results, decided to pursue other options. He decided to pursue flower growing with the goal of improving his income and sustaining his family. He is a thriving, active, hardworking, and persevering man. He does not get discouraged in the face of difficulties that arise.

He reports that his greatest challenge is competition and low cash flow, since his clients pay once every three months. This makes it difficult to purchase the necessary manure and irrigation for his crops. This is why he is requesting a loan. He would like to purchase manure, irrigation, fertilizer, and seed to grow new plants and continue caring for his current crops. He hopes to increase his production and have the opportunity to increase his customers, which will result in an increase in the income that he receives in the medium term.

Franciney has the opportunity to continue to advance toward his main goal, which is to expand his crops and care for them adequately in order to provide a high-quality product. Additionally, he will be able to generate employment, improving his family's well-being and quality of life, as well as that of other people who are involved in this difficult work.
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Franciney, a sus 41 años de edad, es padre de tres hijos y vive en unión libre con su pareja. Desde hace 9 años se dedica a cultivar flores de la especie solidago, las cuales vende a diferentes comercializadoras de flores de la región, cuenta con el apoyo de un trabajador de tiempo completo y una vez por semana contrata los servicios de otra persona. Durante toda su vida productiva se ha dedicado a la agricultura, pues ha tenido varios cultivos de diversos productos, pero, en vista de los bajos resultados decidió buscar otras opciones y por ello incursionó en el campo de la floricultura, con el ánimo de mejorar la entrada de recursos para el sostenimiento de su familia. El cliente es un hombre pujante, activo, trabajador y perseverante, no se desanima ante las adversidades que se le presentan, manifiesta que su mayor desafío es la competencia y el bajo nivel de flujo de efectivo, pues sus clientes pagan a 3 meses, dificultando así la compra de abonos y riegos necesarios para los cultivos. Esto lo lleva a solicitar el apoyo del crédito, con el que desea comprar abonos, riegos, fertilizantes y semillas para cultivar nuevas matas y seguir cuidando las que ya tiene sembradas, así podrá aumentar su producción y tendrá la posibilidad de incrementar su clientela, lo que se reflejará a mediano plazo en el incremento de los ingresos que recibe por la venta de sus productos. De esta manera, Franciney tiene la oportunidad de seguir avanzando hacia el cumplimiento de su principal objetivo que es ampliar sus cultivos y cuidarlos de manera adecuada para ofrecer un producto de excelente calidad, además podrá generar más empleo, mejorando así, la calidad de vida y el bienestar de su familia y la de muchas otras personas que influyen en toda esta ardua labor,

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
  • 463
    View loans »
    Colombia Loans Fundraising
  • $15,270,025
    Funds lent in using Kiva
  • 1,948.6
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $2,575 helped Franciney to buy manure, irrigation, fertilizer, and seeds to cultivate new plants and continue caring for his current crops.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 16, 2013
Listed
Sep 16, 2013
Currency Exchange Loss:
Covered
Expired:
Oct 16, 2013