Noel De Jesús
The requested loan will be used to buy agricultural supplies (coffee seed, manure, fertilizer, pesticides) and to pay the day-laborers that he will employ to plant 9,000 additional coffee bushes. This will enable him to increase production and so to increase his sales and, consequently, the income that he receives for selling his produce.
Noel tells us that, despite the many challenges presented by the climate and the high cost of supplies, he wants to keep striving to have a successful agribusiness and to be able to offer employment opportunities to the people in his community, in addition to improving living conditions and wellbeing for his family.
El crédito solicitado lo invertirá en la compra de insumos agrícolas (semillas de café, abonos, fertilizantes, pesticidas) y pagar la mano de obra de los jornaleros que empleará para sembrar 9000 palos más de café, esto le permitirá aumentar su producción, con lo cual incrementarán las ventas y por ende los ingresos que percibe al vender los productos.
Noel manifiesta que a pesar de los diversos desafíos que se le presentan por el clima y los altos costos de los insumos, él quiere seguir luchando para sacar adelante su agroempresa y poder brindar oportunidades de empleo a los campesinos de su comunidad, además de mejorar las condiciones de vida y bienestar tanto propio como el de su grupo familiar.
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 InformationThis 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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