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Erika Yaned
Erika is a farmer who has been working off the land since she was young, having been taught by her parents. Thanks to this, she now owns dairy cattle whose products she sells, be it milk or curds and cheese. This generates enough of an income to support her family, comprised of her husband and her two children who she has brought up with effort and dedication.

Erika is currently requesting a loan to buy a dairy cow which is being sold at a good price. With this purchase she can increase her yield to 50 litres of milk daily, which would give her the opportunity to sell more products and receive a greater income for her family. With her drive and perseverance Erika would like to keep working hard to make every one of her dreams reality, such as acquiring more heads of dairy cattle to offer employment opportunities to other people in the region. For her this would make her business more profitable and ensure a more profitable and successful future for her children.
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Erika, es una mujer campesina que desde pequeña se ha dedicado a realizar las tareas del campo, que sus padres le enseñaron. Gracias a ello, hoy en día posee ganado lechero cuya producción es vendida ya sea de manera líquida o transformada en cuajada y quesos, lo que le genera los ingresos suficientes para llevar el sustento a su familia, que está conformada por su esposo y sus dos hijos a los que ha sacado adelante con esfuerzo y dedicación. Actualmente solicita el apoyo del crédito para comprar una vaca productora de leche que le están vendiendo a buen precio y que podría aumentar la producción con 50 litros de líquido diariamente, esto le da la oportunidad de vender más producto y por lo tanto recibir mejores ingresos para su familia. Erika con su empuje y perseverancia, desea seguir trabajando arduamente para cumplir cada uno de sus sueños como poder adquirir más cabezas de ganado lechero y así poder ofrecer oportunidades de empleo a otras personas del sector; lo que para ella significaría lograr que su negocio sea más rentable, lo que le permitirá asegurar un futuro más próspero y exitoso para sus hijos.

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

  • $6,070
    Average annual income
  • 272
    View loans »
    Colombia Loans Fundraising
  • $13,826,450
    Funds lent in using Kiva
  • 1,928.6
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,975 helped Erika Yaned to buy a dairy cow.
60% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 30, 2013
Listed
Dec 2, 2013
Currency Exchange Loss:
Possible