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José Jesús
José is a farmer of 46. He was born into a very humble family who taught him when he was very young to do all the farm chores so that when he was grown he could earn his own livelihood. Thanks to that, he has worked in agriculture for more than 31 years, and he now has plantings of corn, beans, and passion fruit. In addition, he has breeding cattle and produces milk. All the production that he obtains from his different activities is sold to generate sufficient income to pay the expenses of his family, which consists of his wife and two children, ages 8 and 6. With the intention of continuing his activities, he is applying for the support of the loan to buy two milk cows that will replace two animals that are in a period of gestation. Thus he will be able to maintain his level of production so that he will be able to face the challenges that are presented to him because of the high costs of the agricultural supplies that he needs and the low sales price for his products. José says that his principal goal is to expand his production of milk, since he has a lot of available space to have more animals and thus be able to achieve a financial stability that will help him to offer a better future and well-being to his children and his wife.
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José es un campesino de 46 años de edad, nacido en el seno de una familia muy humilde que le enseñó desde muy pequeño a realizar todas las tareas del campo para que cuando creciera pudiera conseguir su propio sustento; gracias a ello, hace más de 31 años, se dedica a la agricultura, ya que posee cultivos de maíz, fríjol y curuba; además tiene ganado de levante y es productor lechero, toda la producción que saca de sus diferentes actividades, es vendida para generar los ingresos suficientes para solventar los gastos de su familia, conformada por su esposa y dos hijos de 8 y 6 años. Con el ánimo de darle continuidad a sus actividades, solicita el apoyo del crédito para comprar dos vacas productoras de leche que entrarán a reemplazar a dos animales que están en período de gestación; así podrá mantener su nivel de producción para poder hacerle frente a los desafíos que se le presentan por los altos costos de los insumos agrícolas que requiere y a los bajos precios de venta de sus productos. José dice que su principal meta es lograr ampliar su producción de leche, pues tiene mucho espacio disponible para tener más animales y así poder lograr una estabilidad financiera que le ayude a brindar un mejor futuro y bienestar a sus hijos y su esposa.

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
  • 562
    View loans »
    Colombia Loans Fundraising
  • $14,901,425
    Funds lent in using Kiva
  • 1,931.0
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,575 helped José Jesús to buy two milk cows.
98% repaid
Repayment Term
33 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 31, 2013
Listed
Dec 3, 2013
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2014