Hernando De Jesús
Update on Hernando De JesúsHernando is a humble and hard working country person who, since he was little, began to involve himself in farm work, in the company of his parents since it was the only option they had to earn a living.
Currently, he is owner of an estate that has coffee and banana crops and fruit trees. The harvest he collects is sold in the region's market plaza and so he earns sufficient resources to pay the family expenses and feed his wife and two children.
The loan he is requesting is support to strengthen his business since, with the money, he will buy agricultural inputs like pesticides, fertilizers and larvicides that he needs to refertilize his crops and thus obtain a much more productive harvest to increase profits when selling at the market. Hernando, like all human beings, has dreams and works hard to achieve them, especially to expand his coffee crops and expand production to be able to guarantee economic stability for his family and to provide a better education to his children.
Actualmente es propietario de una finca en la que tiene cultivos de café, plátano y árboles frutales, la cosecha que recolecta es vendida en la plaza de mercado de la región y así genera los recursos suficientes para solventar los gastos familiares y dar sustento a su esposa y sus dos hijos.
El crédito que solicita es un apoyo para fortalecer su negocio, pues con el dinero comprará insumos agrícolas como pesticidas, abonos y larvicidas, que requiere para reabonar sus cultivos y así obtener una cosecha mucho más productiva para aumentar las utilidades al momento de venderla en el mercado.
Hernando como todo ser humano, tiene sueños y lucha para lograrlos, especialmente el de ampliar sus cultivos de café, aumentar la producción para así poder garantizar una estabilidad económica a su familia y brindar una mejor educación a sus hijos.
Previous Loan DetailsHernando has spent most of his life working in agriculture which he learned when he was a very young boy from his father working at his side. With a crop of coffee and another of sugar cane, he earns the income needed to pay the household expenses of his wife and two children who are 14 and 16… More from Hernando De Jesús's previous loan »
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 InformationThis 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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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Success!! The loan was 100% repaid