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Jaime Jacob
Jaime is 40 years old and did farming and ranching work with his parents from a very young age. He started farming and ranching at his own home several years ago.

Jaime plans to invest the funds from this loan in the purchase of farming and ranching supplies, such as larvicides, manure, pesticides, and fertilizers. These supplies will allow Jaime to continue operating his business and give him the chance for a much more productive harvest. A better harvest will boost sales and result in a higher income that will allow Jaime to maintain a good quality of life.
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Jaime es un hombre de 40 años, que desde niño ha trabajado con sus padres en actividades del campo y la ganadería, pero hace unos años empezó a realizar estas actividades en su propia casa. Jaime pretende invertir el crédito en la compra de insumos agropecuarios (larvicidas, abonos, pesticidas, fertilizantes), para poder continuar con su negocio y tener la posibilidad de obtener una cosecha mucho más productiva, lo que generará mejores ingresos por ventas; de esta forma Jaime se permite soñar con mejorar sus ingresos y mantener un buen nivel 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
  • 264
    View loans »
    Colombia Loans Fundraising
  • $13,343,550
    Funds lent in using Kiva
  • 2,045.0
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,975 helped Jaime Jacob to purchase farming supplies to ensure a good harvest.
43% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 14, 2014
Listed
Mar 22, 2014
Currency Exchange Loss:
Possible