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Elkin De Jesús
Elkin, age 46, is a rural resident. He earns his living by working as an employee at a brick factory. Elkin also raises and fattens pigs as an independent business. He currently has one breeding sow and 10 piglets that are in the process of being fattened. Elkin learned this trade from his family and the income he generates is used to pay for his personal expenses, but he also helps to support a brother.

The loan he is requesting will be invested in the purchase of concentrated feed for the diet of his animals. This will fatten them so that they will be adequate for future sale. This will improve his family’s income.

Elkin says that his greatest wish is to grow his business and increase his production in stages, which will guarantee steady income throughout the year and improve the quality of his output.
View original language description ↓
Elkin es un campesino de 46 años de edad que se gana la vida trabajando como empleado en una ladrillera y, de manera independiente se dedica a la cría y engorde de cerdos, actualmente tiene una cerda de cría y 10 lechones en proceso de engorde; el oficio lo aprendió de su familia y con los ingresos que genera, solventa sus gastos personales y ayuda al sostenimiento de un hermano.
El crédito que solicita será invertido en la compra de concentrado para alimentar a sus animales y engordarlos de manera adecuada para su futura venta, así mejorará los ingresos familiares.
Elkin manifiesta que su mayor anhelo es hacer crecer su negocio y ampliar su producción para que sea escalonada y le garantice ingresos constantes durante todo el año y mejorar su calidad.

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
  • 546
    View loans »
    Colombia Loans Fundraising
  • $14,876,100
    Funds lent in using Kiva
  • 1,980.5
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $1,025 helped Elkin De Jesús to buy concentrated pig feed.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 24, 2014
Listed
Apr 3, 2014
Currency Exchange Loss:
Possible
Expired:
May 3, 2014