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Oscar Darío
Oscar is a farmer who has made a living in agriculture from a young age. He learned this from his parents, who spent their whole lives working as laborers, harvesting a range of crops depending on the time of year. At the moment, he has various crops and needs to tend them and prepare the ground for the harvest season, which is getting closer.

This is his motivation for requesting the loan, which will be invested in buying wholesale agricultural inputs (compost, pesticides, and fungicides). With these, he will be able to keep working and achieve a higher crop yield, which he can then sell more easily in the market of the town in which he lives. In this way, Oscar wants to keep progressing, and boost his earnings, which allow him to enjoy economic stability so that he can provide his family with a better quality of life and wellbeing.
View original language description ↓
Oscar es un campesino que se dedica a la agricultura desde muy joven, aprendió de sus padres, quienes se han dedicado durante toda la vida a trabajar como jornaleros, cosechando diversidad de alimentos, según la temporada del año. Actualmente posee algunos cultivos y requiere cuidarlos y preparar la tierra para la temporada de cosecha que se aproxima, esto lo motiva a solicitar el crédito que será invertido en la compra de insumos agrícolas al por mayor (abonos, pesticidas, fungicidas), con los que podrá continuar su labor y sacar una cosecha más productiva para comercializarla más fácilmente en el mercado del pueblo donde reside. De esta manera, Oscar desea seguir progresando, generar mejores ingresos que le den la oportunidad de disfrutar de una estabilidad económica favorable para dar a su familia 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

  • $11,100
    Average annual income
  • 469
    View loans »
    Colombia Loans Fundraising
  • $15,266,825
    Funds lent in using Kiva
  • 1,880.9
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $450 helped Oscar Darío to buy wholesale agricultural inputs (compost, pesticides, and fungicides).
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 19, 2013
Listed
Oct 22, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014