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Oscar Mario
Oscar is a veteran coffee grower who has been in his profession since his youth. He finds it difficult to continue working in this admired profession and one obstacle is the high cost of fertilizers. For this reason Oscar is requesting a loan. He will invest the entire amount in the purchase of compost for his land, which allows him to feed his family that consists of his wife and three children who have not reached adulthood.

Oscar’s main wish is to expand his crops so that he can achieve greater production and improve his family’s quality of life. He also wants to produce coffee beans so that everyone can enjoy an exquisite cup of coffee each day.
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Oscar es un veterano cultivador de café el cual lleva ejerciendo su profesión desde su juventud, el cual presenta una dificultad para seguir operando su admirada profesión y es el alto costo de los abonos, razón por la cual solicita un crédito y lo invertirá todo en compra de abonos para sus tierras que le han dado de comer a su familia conformada por su esposa y tres hijos que no superan la mayoría de edad, su principal sueño es ampliar sus cultivos para sacar una mayor producción mejorando la calidad de vida de su familia y poder contribuir con un grano de café para que todos disfrutemos de una exquisita taza de café al día.

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
  • 466
    View loans »
    Colombia Loans Fundraising
  • $15,270,025
    Funds lent in using Kiva
  • 1,921.2
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $525 helped Oscar Mario to buy compost for his land.
91% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 21, 2014
Listed
Jun 2, 2014
Currency Exchange Loss:
Possible
Ended:
Apr 18, 2015