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María Del Socorro
María's a mother and the head of her household. She has four children whom she has gotten ahead with a lot of effort. She has lived her whole life in a rural area where she learned farm labor. Thanks to that, today she has coffee crops and cattle and pigs to raise with which she earns the money to pay for her household's basic needs.

With care and dedication María has been able to overcome various obstacles that have come up, especially with the high cost of agricultural inputs and the veterinary products she needs to take care of her animals. This doesn't hold her back, though, because with her enterprising spirit she always finds a way to continue making progress.

This brings María to request the loan as support for continuing with her job. With the money she'll buy calves and piglets to raise and fatten for later sale.

She'll be able to increase her production and improve the household income, which will allow her to strengthen her business and stagger production to guarantee that she constantly has money coming in. This way she can continue to look out for the welfare of her children and have better living conditions.
View original language description ↓
María es madre cabeza de hogar, tiene 4 hijos a los cuales ha sacado adelante con mucho esfuerzo. Toda su vida ha vivido en el área rural, donde aprendió las labores del campo y gracias a ello, hoy en día posee cultivos de café, ganado de levante y cría de cerdos, con esto genera los recursos necesarios para solventar las necesidades básicas de su hogar. Con esmero y dedicación ha sabido sobrepasar diversos obstáculos que se le presentan, especialmente con los altos costos de los insumos agrícolas y de los productos veterinarios que requiere para cuidar a sus animales, sin embargo, esto no la detiene, pues con su espíritu emprendedor siempre encuentra la forma de seguir avanzando. Esto la lleva a solicitar el crédito como apoyo para darle continuidad a su actividad, con el dinero comprará terneras de levante y lechones para cría y engorde, para luego venderlos, de esta manera podrá aumentar su producción y mejorará la entrada de recursos económicos al hogar, permitiendo tener la oportunidad de fortalecer su negocio y poco a poco ir logrando una producción escalonada que le garantice recibir ingresos de manera constante, para seguir velando por el bienestar de sus hijos y tener mejores condiciones de vida.

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

  • $11,100
    Average annual income
  • 563
    View loans »
    Colombia Loans Fundraising
  • $14,893,900
    Funds lent in using Kiva
  • 1,914.6
    Colombia Pesos (COP) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $1,575 helped María Del Socorro to buy calves and piglets.
89% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 20, 2013
Listed
Sep 18, 2013
Currency Exchange Loss:
Covered