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Mario Alberto
Mario, who is 48 years old, lives in a rural area and has spent all of his life working in agriculture and selling the various crops which he produces. Currently he has planted beans, cabbage and peas.

He dreams of having a large variety of crops and with this loan he will buy supplies (irrigation equipment, manure, seeds etc.) so he can have abundant harvests of a very high quality. He will sell these in the crop collection centre of the the town where he lives, where he already has a high demand from the wide clientele he has built up. This will have a positive effect on his income and he will be able to continue to look after his family's wellbeing.
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Mario, tiene 48 años,vive en zona rural y toda su vida se ha desempeñado en labores la agricultura y distribución de los diferentes productos que cosecha, actualmente tiene sembrados frijol, repollo y arvejas. Mario sueña con tener una gran diversidad de productos con éste préstamo el comprará insumos (riegos, abonos, semillas, etc) para poder sacar unas cosechas abundantes y de muy buena calidad para ofrecer en el centro del acopio del municipio donde reside y donde ya tiene mucha demanda por la amplia clientela que él maneja. Sus ingresos se verán afectados positivamente y podrá seguir disfrutando de un bienestar familiar.

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

  • $6,070
    Average annual income
  • 303
    View loans »
    Colombia Loans Fundraising
  • $13,971,825
    Funds lent in using Kiva
  • 2,031.7
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $200 helped Mario Alberto to buy supplies such as irrigation equipment, manure, seeds etc.
96% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 17, 2014
Listed
Mar 26, 2014
Currency Exchange Loss:
Possible
Ended:
Apr 18, 2015