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Carlos Mario
Carlos, 29 years old, lives with his partner and their three children. They live in a rural area and are administrators on an estate. Carlos has always worked with everything related to cattle and farming. Currently he has been offered the opportunity to work with his own cattle. He dreams of owning many animals and of marketing them in various sectors of the area.

As a result, Carlos has requested a loan from Interactuar in order to purchase 3 young well-bred bulls. He also needs to buy feed and vaccine in order to care for the animals. With the sale of these animals, he hopes to capitalize on his investment and continue acquiring more. This will allow him and his family to enjoy a higher income and a better quality of life as well as financial stability.
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Carlos con 29 años, vive con su pareja y tienen 3 hijos, viven en zona rural, son mayordomos de una finca, siempre se ha desempeñado en todo lo relacionado a la ganadería y la agricultura, actualmente le brindaron la oportunidad de trabajar su propio ganado bovino, sueña con tener muchos animales y comercilizarlos en varios sectores de la zona, para ello solicitó a la Corporación el crédito con el cual comprará 3 novillos de buena raza y también debe comprar alimentos y vacunas para el cuidado de los animales, con la venta de estos, busca capitalizar la inversión y seguir adquiriendo más, lo cual le permitirá disfrutar con su familia mayores ingresos y una mejor calidad de vida y tranquilidad económica.

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
  • 302
    View loans »
    Colombia Loans Fundraising
  • $13,782,800
    Funds lent in using Kiva
  • 1,963.9
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $775 helped Carlos Mario to purchase three young bulls of good breed, feed and vaccines for the animals' care.
62% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 27, 2014
Listed
Apr 7, 2014
Currency Exchange Loss:
Possible