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Eider Norbey
Eider is a 37 year old country person who has had working experience as a messenger for a company in the region. Seven years ago he went out on his own and started his own business of producing and selling bee's honey. He learned this activity by doing it and up to now has had good results. He puts determination and love into his work generating income.

With the goal of improving his business' position in the market and to make it more profitable Eider is requesting a loan to help him buy supplies (wood, plastic bottles, etc.). This is necessary to build more beehives to replace the ones that have deteriorated, improving the quality of his end product for bottling. This will increase his production and level of profits.

Eider dreams of boosting his level of production which would allow him to attain an increase in sales and consolidate his business in the regional market. This would give him the opportunity to improve his standard of living and provide more well-being for his family.
View original language description ↓
Eider es un campesino de 37 años de edad, que ha tenido experiencia laboral como mensajero en una empresa de la región, pero desde hace 7 años se ha independizó y montó su propio negocio de producción y comercialización de miel de abejas; el oficio lo aprendió de manera empírica y, hasta el momento ha obtenido muy buenos resultados, pues le pone empeño y amor a su actividad generadora de ingresos.
Con el propósito de seguir posicionando su negocio en el mercado y hacer que sea más rentable, solicita el apoyo del crédito para comprar insumos (madera, envases plásticos, entre otros), necesarios para fabricar más colmenas y así podrá cambiar las que están deterioras, mejorando la calidad del producto final para envasar, lo que ocasionará un incremento en la producción y en el nivel de utilidades.
Eider sueña con aumentar los niveles de producción para que le permita lograr un crecimiento de las ventas y consolidar su microempresa en el mercado a nivel departamental, esto le dará la posibilidad de mejorar la calidad de vida y brindarle un mejor bienestar a 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
  • 268
    View loans »
    Colombia Loans Fundraising
  • $13,600,025
    Funds lent in using Kiva
  • 1,926.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,825 helped Eider Norbey to buy supplies (wood, plastic bottles, etc.).
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 16, 2013
Listed
Jan 14, 2014
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014