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Freddy
Together with his cousin, Freddy began a dream 13 years ago. It was of having a lifestyle that was sustainable in time with good sales and generating for their households a good standard of living. One where needs are always taken care of, and with each day the family would grow economically. His work is preparing coffee seedlings and selling them to the coffee growers saving them a large process in the cultivation of their land and minimizing costs. He is requesting a loan to buy manure, soil and seeds to cover the entirety of his land as that will bring him greater profits. Including being able to send his 13 year old son to a better school. His great dream is to never have to stop doing his work as in truth he loves his work.
View original language description ↓
Junto con su primo inicio un sueño hace 13 años de tener un estilo de vida que pudiera sostenerse con el tiempo con buenas ventas y generando en sus hogares un buen estilo de vida en el cual nunca llegaran a pasar una necesidad y crecer cada día más familiar y económicamente.
Su trabajo es preparar los cultivos de café y venderlos a los caficultores ahorrándoles un gran proceso en la cultivación de sus tierra y minimizándoles costos.
Solicita un crédito para la compra de abono, tierra y semillas para cubrir en totalidad sus terrenos pues le traerá mayor beneficios incluso podrá mejorar la educación de su hijo de 13 años permitiéndole acceder a una mejor escuela.
Su gran sueño es que nunca se le acabe su trabajo pues en verdad ama su trabajo

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
  • 265
    View loans »
    Colombia Loans Fundraising
  • $13,496,050
    Funds lent in using Kiva
  • 1,867.4
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,450 helped Freddy to buy agricultural inputs like manure and soil.
26% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 20, 2014
Listed
Jul 22, 2014
Currency Exchange Loss:
Possible