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José María
Jose is 57 years old, married and father of a son. He has always lived his life in the field where he learned the roles and responsibilities of the agricultural sector. As a result, today he makes a living selling bananas bought in the town where he lives. Then, he transports the bananas to the city where he sells them. In this way, he generates sufficient resources to support the livelihood of his family.

Jose is a strong man, humble, and very active worker. Everyday he is in the constant search for options to get ahead. For this reason, he asks for a loan, which he plans to invest in the purchase of wholesale bananas to profit from the fact that the cost of the product decreases, thus improving the level of profits from the sales of the product.

In this way José will be able to continue his activity. He dreams of being able to enjoy a economic stability, which allows him in the medium-term to become a bigger distributor and improve his family’s income and when the time comes being able to relax with the peace of mind that his family would have a better quality of life and well-being.
View original language description ↓
José es un señor de 57 años de edad, casado y padre de un hijo. Toda su vida ha vivido en el campo donde aprendió las funciones y labores del sector agrario, gracias a ello, hoy en día se dedica a comercializar plátanos que los compra en el pueblo donde reside y los lleva a la ciudad para venderlos, de esta manera genera los recursos suficientes para el llevar el sustento a su familia. El cliente es un hombre pujante, humilde, activo y muy trabajador, todos los días va en constante búsqueda de opciones que le ayuden a salir adelante, por lo que se anima a solicitar el apoyo del crédito, que desea invertir en la compra de surtido al por mayor (plátanos), así podrá aprovechar que el costo del producto se disminuye, mejorando así el nivel de utilidades que recibe por las ventas del producto. De esta manera José podrá seguir realizando su actividad y sueña con poder disfrutar una estabilidad económica que le permita a mediano plazo poder convertirse en un distribuidor más grande para así aumentar la entrada de recursos a la economía familiar y cuando llegue el momento, desea descansar con la tranquilidad de que su familia tiene una mejor calidad de vida y bienestar.

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.

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About Colombia

  • $6,070
    Average annual income
  • 521
    View loans »
    Colombia Loans Fundraising
  • $14,666,500
    Funds lent in using Kiva
  • 1,907.0
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $1,050 helped José María to buy wholesale bananas.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 21, 2013
Listed
Sep 19, 2013
Currency Exchange Loss:
Covered
Expired:
Oct 19, 2013