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.
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.
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!