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Oscar
Oscar is a young farmer of 18. Born in a humble and hard-working family, he was taught how to care for crops at a very young age. Thanks to that, he has cared for his own crops for 6 years: he grows carrots, peas, potatoes, and beetroot. He sells the harvest at the regional marketplace. In order to supplement his income, he also works as a day labourer for neighbours in the area. His advantages are that he knows a lot about being a farmer and that he loves his trade. He is a perseverant, motivated, and dynamic youngster. He asks for a loan in order to buy agricultural supplies wholesale (pesticides, manure, insecticide, fertiliser, and seeds), which will enable him to keep caring for his crops and to increase his production, as well as the quality of his produce, so as to increase his earnings. Oscar's life project is to keep being a farmer and he hopes to be able to have his own farm in the future, in order to improve his situation and that of his family with the income derived from it.
View original language description ↓
Oscar es un joven campesino de 18 años de edad, nació en una familia humilde y trabajadora que, desde muy niño le enseñaron todas las labores del campo y, gracias a ello, desde hace 6 años tiene sus propios cultivos de zanahoria, arveja, papa capira y remolacha, la cosecha se recolecta y se vende en la plaza de mercado de la región; adicionalmente y , para complementar sus ingresos, también trabaja como jornalero con algunos vecinos del sector; la ventaja es que tiene mucho conocimiento y experiencia en la labor y ama lo que hace.
Su perseverancia, empuje y dinamismo lo llevan a solicitar el apoyo del crédito para comprar insumos agrícolas al por mayor (pesticidas, abonos, larvicidas, fertilizantes y semillas), esto le permitirá seguir cuidando sus cultivos y obtener una cosecha mucho más productiva y de buena calidad para mejorar las utilidades que recibe por su venta.
Oscar tiene como proyecto de vida, seguir realizando las labores del campo y en un futuro desea adquirir su propia finca para ponerla a producir y así mejorar las condiciones y calidad de vida tanto personales como las de su familia.

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
  • 140
    View loans »
    Colombia Loans Fundraising
  • $12,792,775
    Funds lent in using Kiva
  • 1,944.0
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,550 helped Oscar to buy agricultural supplies wholesale.
44% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 19, 2013
Listed
Dec 23, 2013
Currency Exchange Loss:
Possible