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Jorge Eliecer
Jorge is a humble, strong, and hardworking farmer. He earns his living doing farm work, especially in raising livestock. He learned to farm through the lessons his family gave him. It's a tradition that has been passed down from generation to generation. Furthermore, he has an additional job working in a pottery shop in the region. He does this work to supplement his income and pay household expenses for his family which consists of his wife and 4 children.

In an effort to strengthen his business, he is requesting a loan to buy a cow to raise and a male breeding cow (bull). This will allow him to increase production in the medium-term, achieving better income with his work. Jorge, 53, says that his greatest desire is to have a minimum of 12 breeding cows working a dual-purpose production, producing milk and meat and to also achieve greater profitability so he can provide a good education to his children and enjoy better quality living conditions with them.
View original language description ↓
Jorge es un campesino humilde, pujante y trabajador, que se gana la vida realizando labores del campo, especialmente la cría de ganado. El oficio lo aprendió gracias a las enseñanzas de su familia, ya que ha sido una tradición que pasa de generación en generación; adicionalmente y de manera alterna trabaja como empleado en una alfarería de la región y con el salario que recibe complementa los ingresos para solventar los gastos de su familia, conformada por su esposa y sus 4 hijos.
Con el ánimo de fortalecer su negocio, solicita el crédito para comprar una vaca de cría y un macho reproductor (toro), esto le permitirá aumentar su producción en un mediano plazo, logrando generar mejores ingresos con su labor.
Jorge, con 53 años de edad, manifiesta que su mayor anhelo es tener una producción mínimo con 12 vacas reproductoras de doble propósito, es decir, que puedan producir leche y carne, pues así logrará mayor rentabilidad y podrá brindar una buena educación a sus hijos y disfrutar junto a los suyos de mejores condiciones 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.

Tags

About Colombia

  • $11,100
    Average annual income
  • 467
    View loans »
    Colombia Loans Fundraising
  • $15,268,500
    Funds lent in using Kiva
  • 2,031.7
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,000 helped Jorge Eliecer to purchase a cow and a bull.
59% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 4, 2014
Listed
Mar 19, 2014
Currency Exchange Loss:
Possible