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Luis Carlos
Luis is a 60-year-old farmer. He is married with five children who he has raised with a lot of hard work and effort. He was born into a humble family that had always made a living working the land. Thanks to this, he gained the knowledge that today allows him to own a corn crop on a lot close to his home. He has the support of a day-worker who helps him out Monday to Friday. The harvest is sold at the collection center in the city where he lives.

He is currently requesting a loan to continue strengthening his business. The money will be invested in the purchase of fertilizers, irrigation supplies, pesticides, and potato seeds, items that he requires in order to continue caring for his current crop and to start off planting a potato crop. In doing this, he will diversify his work and open the path to a new market. He hopes to have a much more productive harvest and to improve his income.

Luis says that his motivation is the love that he feels for his children. He dreams of offering them a quality education so that they may have a more successful and prosperous future. He also hopes to enjoy his old age in a calm manner alongside those he loves.
View original language description ↓
Luis es un campesino de 60 años de edad, casado y padre de 5 hijos a los que ha sacado adelante con gran esfuerzo y mucho trabajo. Nació en una familia humilde que siempre se dedicó a realizar las labores del campo, gracias a ello obtuvo los conocimientos que hoy en día le permiten ser propietario de un cultivo de maíz que tiene en un lote arrendado en una vereda cercana a su hogar; cuenta con el apoyo de un empleado al jornal con el que trabaja de lunes a viernes y, la cosecha que recolecta es vendida en el centro de acopio del municipio donde reside.
Actualmente solicita el crédito como alternativa para seguir fortaleciendo su negocio, el dinero será invertido en la compra de abonos, riegos, pesticidas y semillas de papa, insumos que requiere para seguir cuidando su cultivo actual y para incursionar en la siembra de papa y así diversificar su labor y abrirse camino en un nuevo mercado; así espera tener una cosecha mucho más productiva y mejorar los ingresos que percibe a la hora de vender el producto.
Luis manifiesta que su motivación es el amor que siente por sus hijos, por ello sueña con tener la posibilidad de ofrecerles una educación de calidad para que se forjen un futuro más exitoso y próspero, además desea disfrutar su vejez de manera tranquila al lado de los que ama.

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
  • 470
    View loans »
    Colombia Loans Fundraising
  • $15,266,950
    Funds lent in using Kiva
  • 1,939.0
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,825 helped Luis Carlos to buy fertilizer, irrigation supplies, pesticides, and potato seeds.
87% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 20, 2013
Listed
Dec 24, 2013
Currency Exchange Loss:
Possible
Ended:
Aug 21, 2015