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Juan Fernando
Juan is a young farmer of 20 years of age who works at farming independently. He learned this skill from his father and it has become his principal source of income. He has crops of corn, beans and broad beans which he collects the harvest and sells it in the plaza of the municipal market. He makes enough money to support his household finances.

With the goal of strengthening his crops he is requesting a loan to buy agricultural inputs like manure, pesticides, fertilizers, etc. So he can fertilize his fields to have a more productive harvest. He could then generate more profit in his business.

Juan with his energy and his spirit of getting ahead, strives endlessly to achieve his goals. One of them is to have much larger harvests and to pay for his Secondary school studies and graduate and become a prosperous and solid businessman.
View original language description ↓
Juan es un joven campesino de 20 años de edad, que se dedica a la agricultura de manera independiente, oficio que aprendió de su padre y que se ha convertido en su principal fuente de ingresos.
Actualmente posee cultivos de chócolo, fríjol y arvejas, productos que recolecta en las cosechas y los vende en la plaza de mercado del municipio, así logra generar los recursos suficientes para aportar a la economía de su hogar.
Con el ánimo de fortalecer sus cultivos, solicita el crédito para comprar insumos agrícolas como abonos, pesticidas, fertilizantes y otros, con lo que podrá reabonar la tierra para tener una cosecha mucho más productiva que le permita mejorar la rentabilidad de su negocio.
Juan, con su ímpetu y su espíritu de superación, lucha incansablemente para alcanzar sus metas, entre ellas la de tener sus cultivos mucho más grandes y costear sus estudios secundarios para terminar su bachillerato y convertirse en un hombre íntegro y próspero en sus negocios.

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

  • $6,070
    Average annual income
  • 265
    View loans »
    Colombia Loans Fundraising
  • $13,343,550
    Funds lent in using Kiva
  • 1,964.4
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,550 helped Juan Fernando to buy agricultural inputs like manure, pesticides, fertilizers, etc.
41% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 26, 2014
Listed
Apr 5, 2014
Currency Exchange Loss:
Possible