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Wilson Adolfo
Wilson is an industrious, rural man of 39 years of age. He's married and has a 15-year old teenage son that he has supported with lots of hard work. The start of his work history was 21 years ago as a foreman at a plantation in his area. Afterwards he started his own business with the objective of boosting household finances. The business centers around the growing of hydrangeas that he rented from his now deceased father-in-law, and his production capacity is at 12,000 plants which he sells to an international exporter. He has one full-time employee and is currently registering with ICA so he can sell to other multinational companies. With this loan that's he requesting he will pay off a debt to a third party, which stems from the construction of a packing room. This would allow him to continue his business' growth and additionally get him closer to his goal of marketing to large businesses. That would generate higher income which could then be reinvested in his business to acquire another plant type and diversify his merchandise and guarantee economic stability for the sake of his family's welfare and quality of life.
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Wilson es un campesino trabajador de 39 años de edad, casado y padre de un hijo adolescente de 15 años; a quien ha sacado adelante con mucho esfuerzo.
Lleva 21 años de su vida productiva, trabajando como mayordomo en una finca de la región donde reside y, de manera independiente inició su propio negocio, con el fin de complementar los recursos para llevar el sustento a su hogar; se trata de un cultivo de hortensias que arrendó, el cual era propiedad de su suegro ya fallecido, cuenta con una producción de 12.000 matas y ésta es vendida a una comercializadora internacional; cuenta con el apoyo de un empleado de tiempo completo y actualmente se encuentra tramitando el registro ICA para poder comercializar a otras multinacionales.
Con el crédito que solicita pagará una deuda con un tercero, que tiene pendiente por la construcción de una sala de empaque; esto le permitirá continuar con el crecimiento de su negocio y además seguirá avanzando para cumplir su meta de comercializar con otras grandes empresas; generando mayor nivel de ganancias para reinvertir en su oficio y adquirir otro cultivo para diversificar la oferta y así garantizar una estabilidad económica para mejorar la calidad de vida y el bienestar 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

  • $11,100
    Average annual income
  • 489
    View loans »
    Colombia Loans Fundraising
  • $15,258,975
    Funds lent in using Kiva
  • 1,936.1
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,050 helped Wilson Adolfo to pay off a debt to a third party, stemming from the construction of a packing room.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 11, 2013
Listed
Jan 10, 2014
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2014