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Jorge Luis
Jorge is a young fisherman who is 23 years of age. He and his girlfriend are in a common-law relationship and he is the father of a 10-month-old baby. Jorge has lived his entire live near the Magdalena River, where he learned everything about fishing from his parents and relatives. Fishing is the primary source of income that has been passed on from generation to generation. Jorge has his own motorized canoe. The fish he catches each day is sold at the market in the town where he lives. This is how he generates income to support his family.

Jorge is requesting the assistance of a loan so that he can strengthen his business. He needs to buy a net for holding catfish, a lantern, and a fish trap. These are the pieces of equipment that will allow him to catch a greater quantity of fish so that he can increase his sales and his income. The loan will provide the way for him to move forward and fulfill his main goal of opening a fish selling business in which he can distribute at a regional level. This will generate more profit so that he can provide his family with a better quality of life and improved well-being.
View original language description ↓
Jorge es un joven pescador de 23 años de edad, que convive con su compañera sentimental en unión libre y es padre de un bebé de 10 meses de nacido. Toda su vida ha vivido cerca a la rivera del río Magdalena, en el que aprendió de sus padres y familiares todo lo relacionado con la pesca de río, pues ha sido la principal fuente de ingresos que ha pasado de generación en generación; tiene su propia canoa a motor y; la pesca diaria es vendida en el mercado del municipio donde reside, generando así los ingresos para el sustento familiar.
Solicita el apoyo del crédito para fortalecer su labor, pues requiere comprar un chinchorro para pesca de bagres, un velador y un trasmallo, herramientas que le permitirán pescar mayor cantidad de animales y así mejorar las ventas y los ingresos que de ellas recibe; abriendo paso para seguir avanzando y poder llegar a cumplir su meta principal que es crear una pesquera que distribuya a nivel regional, generando mayor rentabilidad para dar a su familia una mejor calidad de vida y bienestar.

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.

About Colombia

  • $6,070
    Average annual income
  • 192
    View loans »
    Colombia Loans Fundraising
  • $12,868,250
    Funds lent in using Kiva
  • 1,924.9
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $800 helped Jorge Luis to buy a fishing net, a lantern, and a fish trap.
48% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 27, 2013
Listed
Dec 31, 2013
Currency Exchange Loss:
Possible