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Mauricio Enrique
Mauricio is 41 years old, lives in the countryside, and has a store from which he makes and sells corn arepas (traditional Colombian snack) in the city of Sincelejo. This has been his main method of supporting his family. However, a little over a year ago, Mauricio decided to also raise chickens, hens and trout, business which has been in his family. He sells his produce in various stores as well as directly to neighbors in his area. He wants to invest his loan in the purchase of more hens and chickens, as well as to enlargen the lake where he cultivates the trout. His dream is to grow his business, generate employment, and improve his and his family's quality of life.
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Mauricio es un campesino de 41 años de edad, tiene una fábrica de arepas de maíz en la ciudad de Sincelejo que ha sido su sustento familiar, y hace poco más de un año se dedica también a la cría de pollos de engorde, gallinas y truchas, negocio que ha sido de tradición familiar. Hace las ventas en las tiendas y a los vecinos de la vereda. Quiere invertir su crédito en la compra de más gallinas, pollos de engorde y la ampliación del lago para la cría de las truchas. El sueña con hacer crecer su negocio, generar empleo y mejorar la calidad de vida para él y 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.

About Colombia

  • $11,100
    Average annual income
  • 489
    View loans »
    Colombia Loans Fundraising
  • $15,254,800
    Funds lent in using Kiva
  • 2,043.5
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $3,450 helped Mauricio Enrique to buy more hens and chickens, and later to enlargen his lake for trout cultivation.
63% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 25, 2014
Listed
Mar 3, 2014
Currency Exchange Loss:
Possible