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María Eugenia
María is a 56 year old farmer. She is a single mother and the head of the family since she has been separated from her husband. Since she was young she has learned about working the fields, thanks to the teaching given her by her father.Today this allows her to generate income for her family. She raises and sells pigs and chickens. She also has a small grocery store which compliments her income.

María will use the loan to buy pigs and modify the pig styes. This will allow her to increase her production and improve the living conditions of the animals. Her sales will increase and so will the profits she can realize. María says that her aim is to improve the quality of living of her family and to strengthen her business, leaving a good estate for the day that God calls her to his side.
View original language description ↓
María es una campesina de 56 años de edad, madre de un hijo y cabeza de hogar desde que se separó de su esposo.
Desde que era pequeña aprendió todas las labores del campo, gracias a las enseñanzas de su padre y, hoy en día le ha permitido generar ingresos para su familia, pues se dedica a la cría y comercialización de cerdos y pollos, además tiene una pequeña tienda de abarrotes con la que complementa los ingresos.
El crédito que solicita será invertido en la compra de lechones y adecuación de las cocheras, esto le permitirá aumentar su producción y mejorar las condiciones de mantenimiento para los animales, logrando mejorar las ventas y el margen de utilidades que percibe.
María manifiesta que su propósito es mejorar la calidad de vida de su familia y fortalecer sus negocios para dejar un buen legado el día que Dios disponga de su vida.

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
  • 167
    View loans »
    Colombia Loans Fundraising
  • $12,834,025
    Funds lent in using Kiva
  • 1,963.2
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,550 helped María Eugenia to buy pigs and modify her pig styes.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 20, 2013
Listed
Jan 20, 2014
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2014