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Armando has lived his whole life in the countryside. He met his wife there and they have two children. He has always struggled to make ends meet as what he earned wasn't sufficient to cover all his monthly expenses.

A few years ago he became a dairy farmer, starting out with just one cow. As time passed and with the help of loans, he managed to grow his business and become an important milk producer in the area. Now Armando wishes to expand and begin farming as he needs much money to provide his children with a good education. They want to study courses related to the care of animals as they have learned from their father to love animals.

The loan Armando is seeking is to buy two milk cows. He expects them to produce enough milk and profits after one year for him to be able to buy a parcel of land and begin to farm it.
View original language description ↓
Armando lleva toda la vida viviendo en el campo donde conoció su pareja y tuvo dos hijos, a lo largo de su vida se enfrentó con varios problemas económicos pues lo que producía no era suficiente para cubrir sus gastos mensuales.
Hace algunos años inicio con una vaca para comenzar a ser productor de leche con el tiempo y con ayuda de préstamos logro consolidar su empresa y ser un importante producto de leche en el sector ahora quiere expandirse y comenzar con cultivos pues necesita muchos recursos para darle una buena educación a sus hijos que quieren estudiar algo relacionado con el cuidado delos animales pues han aprendido de su padres a amar los animales.
El crédito que pide lo invertirá en la compra de dos vacas lecheras con las que tiene pronosticado tener una producción y una rentabilidad suficiente para en un periodo de un año comprar una parcela y empezar a cultivar

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.


About Colombia

  • $11,100
    Average annual income
  • 352
    View loans »
    Colombia Loans Fundraising
  • $15,676,275
    Funds lent in using Kiva
  • 1,874.4
    Colombia Pesos (COP) = $1 USD
A loan of $2,675 helped Armando buy two milk cows.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 24, 2014
Jul 25, 2014
Currency Exchange Loss:
Aug 24, 2014