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Moisés Salvador
Moisés is a farmer. He has five children and lives in a rural area. All of his life he has worked in the fields doing different jobs, such as farming and raising animals. Nowadays he works raising pigs for sale and distribution.

Moisés dreams of owning many animals and of improving his home. He has requested a loan with the goal of purchasing animals and supplies to care for and fatten his pigs. Thus his business will have increased profits and he will be able to continue giving his family the education they need and improve their standard of living.
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Moisés, es un campesino, tiene 5 hijos y viven en zona rural, toda su vida ha trabajado en el campo en diversas labores como agricultor, criador de animales, actualmente su actividad es criar cerdos para la venta y distribución, sueña con tener muchos animales y mejorar su vivienda, Moisés hizo la solicitud del crédito con el fin de invertir en compra de animales, insumos para el cuidado y engorde de los cerdos, negocio que le representa ganancias aumentando sus ingresos con lo cual puede seguir dando a su familia la educación que necesitan y mejorar su nivel de vida.

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
  • 183
    View loans »
    Colombia Loans Fundraising
  • $13,171,600
    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 $525 helped Moisés Salvador to purchase pigs and supplies.
65% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 27, 2014
Listed
Apr 7, 2014
Currency Exchange Loss:
Possible