Since she got married, she has learned all about farm work as her husband has land where she grows produce and she also works as a day laborer harvesting for neighboring farmers. In this way, she earns enough to help her husband cover the household expenses.
The loan that she is requesting will be used to buy agricultural supplies such as seeds, fungicides, manure, fertilizer, with which she will enrich the soil before resowing. This way, she will have a more productive harvest that will generate more income when the produce is sold.
María dreams of growing a greater variety of produce, including vegetables, in order to take advantage of the land available at her husband's farm and to increase the profitability of the business and guarantee a better quality of life for her family and offer her children a better education.
Desde que se casó aprendió todas las labores del campo, ya que su esposo tiene un terreno donde cultiva algunos productos y adicionalmente trabaja como jornalera recolectando cosechas en fincas vecinas; de esta forma genera los recursos suficientes para apoyar a su esposo con la carga económica del hogar.
El crédito que solicita será utilizado en la compra de insumos agrícolas como semillas, fungicidas, abonos y fertilizantes, con lo que podrá reabonar la tierra para sembrar nuevamente y así tener una cosecha más productiva que le genere mejores ingresos a la hora de vender el producto.
María sueña con tener más cultivos de diversos productos, entre ellos las hortalizas, para aprovechar el terreno que tiene disponible en la finca de su esposo y así mejorar la rentabilidad del negocio y garantizar una mejor calidad de vida a su familia y brindar mejor educación a sus hijos.
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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This loan has been fully funded!