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Esteban Manuel
Esteban is a 32-year old father of three children, for whom he works hard everyday. He is concerned not only with giving his children what they need to survive, but also with providing them with food, an education and even a quality toy. Esteban feels that a toy is evidence of the sacrifice he is making for his children so that they too will work and think of their future. Esteban works in the livestock sector, basically buying and selling pigs. He learned the business from his parents, and until now it as served him in supporting his family. Esteban is requesting the loan to purchase pigs, which will increase the number in his corral. This will make his ranch look strong in his field, customers will seek him out, and they will have him in mind when the time comes to acquire a pig. Esteban's main dream is to have a business that competes on par with other similar establishments. He also wants to provide his children with the necessary tools to become university-educated professionals.
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Esteban en un hombre de 32 años padre de 3 hijos por los que vela cada día que no solo se preocupa por que tengan lo suficiente para vivir si no por brindarle comida, educación e incluso un juguete de calidad ya que quiere que estos evidencien el sacrificio que Esteban hace por ellos para que trabajen y se preocupen por su futuro. Se desenvuelve en el sector agropecuario básicamente en la compra y ventas de cerdos actividad que aprendió de sus padres y que hasta el día de hoy le ha servido para mantener a su familia, solicita el crédito para la compra de cerdos y así aumentar el número de estos en su corral haciendo ver a su hacienda como un potencial en este campo y que los clientes lo busquen y lo tenga como referente a la hora de adquirir un cerdo. Su principal sueño es tener un negocio que compita a la par con los demás establecimientos semejantes y brindarles todas las herramientas necesarias a sus hijos para que sean todos unos profesionales universitarios

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.

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About Colombia

  • $11,100
    Average annual income
  • 487
    View loans »
    Colombia Loans Fundraising
  • $15,254,800
    Funds lent in using Kiva
  • 1,939.5
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $525 helped Esteban Manuel to purchase pigs to increase their quantity in his corral, which will make his business look more attractive and be more competitive.
92% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 31, 2014
Listed
May 12, 2014
Currency Exchange Loss:
Possible
Ended:
Apr 18, 2015