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Oscar Darío
Oscar is a 29-year-old farmer who works in livestock raising. He works as an employee at a farm in the region where he lives. There he milks the cows and cares for the pasturage. He learned this work when he was a boy, thanks to the teachings of his father, who did farm work all his life. In addition, and to supplement his income, he alternates his job with caring for his own dairy cattle, since he has three cows located on the little pasture of his family home. They produce approximately 50 liters of liquid a day, which he sells to neighbors and friends in the area. His effort, his entrepreneurial spirit, and his enthusiasm motivate him to continue seeking alternatives that will help him to advance. It is for this reason that he is applying for the loan, with which he wants to buy two dairy cows. With them, he will be able to increase his production and thus improve his revenue from sales. This will allow him to continue working to accomplish his dreams of progressing, acquiring his own farm with ample pastures to continue his business in a totally independent manner without having to pay more rent. In addition, he wants to have many cows so that his business is productive and profitable, and this will allow him to help with the family economy, improving the conditions and standards of living.
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Oscar es un campesino de 29 años de edad, que se dedica a realizar labores pecuarias, trabaja como empleado en una finca de la región donde vive, allí ordeña las vacas y cuida los pastizales; esta actividad la aprendió desde que era un niño, gracias a las enseñanzas de su padre, quien toda la vida se dedicó a las labores del campo. Adicionalmente y, para complementar sus ingresos, alterna su empleo con el cuidado de su propio ganado lechero, pues posee tres vacas ubicadas en un pequeño potrero que tiene en la casa de su familia, las cuales producen aproximadamente 50 litros de líquido al día que vende entre los vecinos y amigos del sector. Su empuje, espíritu emprendedor y su entusiasmo lo motivan para seguir buscando alternativas que le ayuden a salir adelante; es por ello que solicita el crédito, con el que desea comprar dos vacas productoras de leche, con las que podrá aumentar su producción y así mejorar los ingresos por venta; esto le permite seguir luchando para cumplir sus sueños de progresar, adquirir su finca propia con un potrero amplio para continuar con su actividad de manera totalmente independiente y no tener que pagar más arriendo, además desea tener muchas vacas para que su negocio sea productivo y rentable y le permita ayudar con la economía de su familia; mejorando las condiciones y el nivel 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.

Tags

About Colombia

  • $11,100
    Average annual income
  • 497
    View loans »
    Colombia Loans Fundraising
  • $14,967,400
    Funds lent in using Kiva
  • 1,919.6
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $4,700 helped Oscar Darío to buy two dairy cattle.
40% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 10, 2013
Listed
Nov 9, 2013
Currency Exchange Loss:
Possible