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Edgar
Edgar is a 23 year old farmer who is humble and hardworking. He learned the trade and tasks of farming through the teachings of his grandparents and parents. Thanks to it, today he has bean, peas and potato crops. The harvests are collected and sold in the town market. He also has two dairy cows with which he is able to add to his income to support the family. Right now, his biggest challenge is that his crops are at a distance from the center of town. On top of the poor condition of the roads, the cost of transporting his crops to be sold goes up. Nonetheless, he has been able to get ahead with drive and dedication.

The loan he is asking for now will be invested in buying agricultural materials wholesale (fertilizer, pesticide) in order to re-fertilize his crops and have a more productive harvest so he can sell at a better price in the market and generate a higher level of profits. Edgar says that his biggest wish is to have his own parcel of land where he can continue with his crops, guaranteeing better profits to be able to offer employment opportunities and have favorable financial stability to give his family a better well being and quality of life.
View original language description ↓
Edgar es un joven campesino de 23 años de edad, humilde y trabajador, aprendió el oficio y las tareas del campo por medio de las enseñanzas de sus abuelos y padres, gracias a ello, hoy en día posee cultivos de fríjol, arveja y papa criolla cuyas cosechas son recolectadas y vendidas en el mercado del pueblo, adicionalmente posee dos vacas productoras de leche con lo que logra complementar los ingresos para aportar a la economía familiar. Actualmente, su mayor desafío es la lejanía entre sus cultivos y el casco urbano de la región, sumado al mal estado de las vías, por lo que se incrementan los costos de transporte de sus productos, para ser vendidos; sin embargo, ha logrado salir adelante, con empuje y dedicación.
El crédito que solicita actualmente será invertido en la compra de insumos agrícolas al por mayor (abonos, fertilizantes, pesticidas), con el fin de reabonar sus cultivos y lograr obtener una cosecha más productiva, para poder vender a mejor precio en el mercado y generar mayor nivel de utilidades.
Edgar manifiesta que su mayor anhelo es tener una parcela propia en la que pueda continuar con sus cultivos, pero garantizando una mayor rentabilidad para poder brindar oportunidades de empleo y tener la estabilidad económica favorable para dar a su familia un mejor bienestar y calidad de 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.

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About Colombia

  • $6,070
    Average annual income
  • 301
    View loans »
    Colombia Loans Fundraising
  • $13,837,125
    Funds lent in using Kiva
  • 2,028.4
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,500 helped Edgar to buy fertilizer for his beans, peas and potatos.
52% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 20, 2014
Listed
Feb 20, 2014
Currency Exchange Loss:
Possible