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Manuel Enrique
Manuel has been a humble agricultural worker all his life. He earns his living through this labor. He learned this business by doing it at a very early age with his father who taught him all he needs to know to survive.

He works his own farm growing different types of foods like plantains. yucca and beans. He works with his wife and his son-in-law and together they have harvested their crops.

Manuel is requesting a loan to buy the supplies he needs to prepare the land like fertilizer and irrigation, besides buying the seeds needed for his crops. This will allow him to carry out his strenuous task with which he sustains his family. One of his dreams is to have another larger plot of land and grow a larger quantity of product as well as generate work for a few people from his area.
View original language description ↓
El señor Manuel ha sido un humilde campesino trabajador toda su vida y se gana la vida realizando labores de agricultura.
Este oficio lo aprendió empíricamente desde muy niño al lado de su padre quien le enseño todo lo necesario para sobrevivir.
El trabaja en su propia finca cultivando distintos topos de alimentos como plátano, yuca y frijol, en colaboración con su esposa y su yerno ha sacado sus cultivos adelante todo este tiempo.
El solicita dinero para comprar elementos para la preparación de sus tierras como abonos y riegos, además necesita comprar semillas para realizar sus cosechas. Esto le permitirá seguir ejerciendo su ardua actividad con la que ha sostenido a su familia todos estos años.
Uno de sus sueños es poder tener otra parcela de tierra más grande y allí tener más cantidad de producto, además de generar algunos empleos a las personas de su región.

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
  • 303
    View loans »
    Colombia Loans Fundraising
  • $13,796,725
    Funds lent in using Kiva
  • 1,938.0
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $2,600 helped Manuel Enrique to buy inputs and a variety of seeds.
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 27, 2014
Listed
May 4, 2014
Currency Exchange Loss:
Possible
Expired:
Jun 3, 2014