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Henry Alonso
Henry is a proud rancher who worked as a farm administrator for several years, until he had the opportunity to fulfill a long-standing ambition and study construction. He then moved to the city and began school.

After completing his studies, Henry returned home, where he works in construction but also has a business buying and selling livestock. Henry is able to balance his livestock business with meeting the responsibilities of his construction contracts. He is now building his own home and is extremely proud to say that he's paying for the construction with his own resources and doing the work with his own two hands, all in order to benefit his family. The construction, however, is expensive, so Henry is applying for a loan so that he can purchase three cattle to boost his livestock business and keep striving finish the home and fulfill his dream. This loan will not only put Henry closer to his goal of finishing the house, but also go far towards establishing his reputation as a buyer and seller of livestock.
View original language description ↓
Henry es un orgullo ganadero el cual se desempeñó como administrador de fincas por varios años, una vez presentada la oportunidad para estudiar algo que siempre había anhelado (construcción), se fue para la ciudad y comenzó sus estudios.
Luego de terminar sus estudios regresos a sus tierras donde ejerce la profesión que estudio pero aparte de esto tiene una compra y venta de animales oficio que no descuida a pesar de sus responsabilidades con los contratos. Actualmente se encuentra construyendo su casa propia y se llena de orgullo al decir que con sus mismos recursos y sus manso está levantando la casa de sus sueños para él y su familia, pero como resulta costoso Henry solicita un crédito para la compra de tres “reces” para potenciar su actividad agrícola y pueda seguir alimentando sus sueños de terminar la casa con la ayuda del crédito no solo estará más cerca de terminar su hogar si no que ayuda en gran medida a la consolidación de su nombre entre los solicitados para la compra de ganado.

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
  • 289
    View loans »
    Colombia Loans Fundraising
  • $13,837,125
    Funds lent in using Kiva
  • 1,906.6
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,050 helped Henry Alonso to purchase three animals (livestock) to boost his business and keep working to fulfill the dream of building his own home.
34% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 30, 2014
Listed
Jun 11, 2014
Currency Exchange Loss:
Possible