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Luis Alfonso
Luis, 34, is a farmer who has spent his working life in the dairy business. He initially worked for some dairy companies but took the chance to go out on his own and earn money for himself. He now has 12 dairy cows, and he sells the milk daily to one of the country's largest dairy businesses. He is able to earn enough money to provide for his family, which comprises his wife and two children. His effort, tenacity, and dedication have allowed him to prosper and overcome the biggest challenges life presented, especially during times when supplies to take care of his livestock were very expensive.

He has applied for a loan to buy two milk cows to increase his herd. This will let him produce more milk to sell and increase his daily earnings. Luis wants to keep striving to achieve his goals and dreams, especially to have a minimum of 20 cows so that he use all the available space on the farm he rents. His business would then be more profitable, and he would be able to offer his family greater financial stability, greater well being, and a better standard of living.
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Luis es un campesino de 34 años de edad que, durante su vida productiva se ha dedicado a trabajar en el campo lechero, inicialmente trabajó en diferentes empresas lecheras y, con el paso del tiempo tuvo la oportunidad de independizarse y comenzar a generar ingresos por cuenta propia; hoy en día posee 12 vacas productoras de leche cuyo producto es vendido diariamente a una de las empresas del sector lechero más grandes del país; de esta manera genera los recursos suficientes para llevar el sustento a su familia, conformada por su esposa y dos hijos. Su empuje, tenacidad y dedicación le han permitido salir adelante, sobrepasando los grandes desafíos que la vida le pone, especialmente ocasionados por los altos costos de los insumos agrícolas con los que cuida a sus animales; sin embargo, esto no lo detiene en su andar. Solicita el apoyo del crédito con el único interés de comprar 2 vacas productoras de leche más para aumentar su ganado, lo que le permitirá ampliar la producción de líquido para poder vender más producto y así mejorar los ingresos que recibe diariamente. De esta forma Luis quiere seguir luchando por alcanzar sus metas y sueños, especialmente el de llegar a tener mínimo 20 vacas para aprovechar el espacio que tiene disponible en la finca que arrienda, esto le permitirá hacer de su actividad un negocio más rentable y podrá brindar a su familia una estabilidad económica favorable para disfrutar de un mejor bienestar y calidad 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.

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About Colombia

  • $6,070
    Average annual income
  • 231
    View loans »
    Colombia Loans Fundraising
  • $12,881,350
    Funds lent in using Kiva
  • 1,926.5
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,600 helped Luis Alfonso to buy two milk cows.
53% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 15, 2013
Listed
Nov 15, 2013
Currency Exchange Loss:
Possible