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Jose Arnoldo
Jose is an independent farmer with extensive experience managing crops and animals. Currently, he has coffee crops, plantains and some fruit trees. He tends to his land everyday, and he later sells his harvests in the neighboring towns. This is how he earns a living and provides for his family. He is a very hardworking, dedicated and diligent man with a great ability to learn.

He is asking for some financial help to purchase agricultural supplies that will allow him to keep his crops alive and maintain the good quality. Among these supplies are fungicides, pesticides and herbicides. These products keep the crops free from pests and prevent the growth of bacteria. He dreams of having a large plot of land where he can work and have a more stable income to live peacefully.
View original language description ↓
Jose es un agricultor independiente con amplia experiencia en el manejo de cultivos y de animales.
Tiene actualmente un cultivo de café, plátano y algunos frutales, atiende su terreno todos los días y posteriormente vende sus cosechas en los pueblos cercanos, es así como se gana la vida y consigue el sustento para su familia.
Es un hombre muy trabajador, dedicado, con gran capacidad para aprender y es bastante diligente.
El pide un aliento económico para comprar algunos insumos agrícolas que le permitan mantener sus cultivos en pie y de muy buena calidad. Entre estos insumos se destacan fungicidas, plaguicidas y herbicidas. Estos productos mantienen las cosechas libres de plagas y evitan el crecimiento de bacterias.
El sueña con tener una gran parcela en la cual pueda trabajar y tener unos ingresos más estables para vivir tranquilo.

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
  • 163
    View loans »
    Colombia Loans Fundraising
  • $13,203,500
    Funds lent in using Kiva
  • 1,887.0
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $800 helped Jose Arnoldo purchase agricultural supplies.
27% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 19, 2014
Listed
Jun 17, 2014
Currency Exchange Loss:
Possible