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Martin Emilio
Martin is a 39-year-old farmer who has dedicated his whole life and being to the countryside. He grows coffee, corn, bananas and vegetables, which he learned from his parents and siblings and which, with his business outlook, he perfected and strengthened. He knows that as a farmer, he has a very important mission and not only does he need to provide for the household costs, but also provide excellent products to the people who consume them because they are products that we consume daily. He asks for this loan to purchase a traditional coffee-drying shelter, a pressure sprayer, seeds, and fungicides among other things with which he wants to stop an infestation that has begun to break out and protect the future of his crops. His primary dream is to expand his business a lot so more people can enjoy his coffee every morning.
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Martin es un agricultor de 39 años de edad que ha dedicado toda su vida y ser la campo, cultiva café, maíz, plátano y hortalizas actividad que aprendió de sus padres y hermanos y que con sus actitudes de comerciante perfecciono y potencio, sabe que como agricultor tiene una misión muy importante y no solo es la de mantener los gastos de su hogar, es cosechar productos de calidad puesto que son productos que son consumidos cotidianamente. Solicita un crédito para la compra de una marquesina, una bomba para fumigar, semillas, fungicidas entre otros con los que quiere detener una plaga que está comenzando a brotar y proteger sus cultivos a futuro, su principal sueño es ampliar mucho más su negocio que más personas disfruten cada mañana de su café

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

  • $6,070
    Average annual income
  • 223
    View loans »
    Colombia Loans Fundraising
  • $12,881,350
    Funds lent in using Kiva
  • 1,910.4
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,275 helped Martin Emilio to purchase a traditional coffee-drying shelter, a pressure sprayer, seeds, pesticides, and fungicides with which he wants to expand his farm and offer coffee to more businesses.
89% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 15, 2014
Listed
May 27, 2014
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014