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Victor Alfonso
Every farmer is a great lover of his profession, as all day long, without regard for climate, the farmer goes to look after his crops; and the dream of most farmers is to extend and work their lands.

Victor has been working his own land for eight years. He learned his profession from his parents, and now he wants to improve his production. That is why he is requesting a loan for the purchase of supplies for preparing the land, such as seed, compost, and fertilizer.

This loan will be a great help because it will allow him to maintain a work rhythm and ensure a vigorous crop, so that he can think about having a family, and have the means to provide for them every day.
View original language description ↓
Todo campesino es un gran amante de su profesión pues todo el día sin importar las condiciones en que se encuentre el clima o incluso el mismo agricultor mira y le da una vuelta a sus cultivos y un sueño en general que tienen es poder extender sus tierras y trabajarlas.

Víctor lleva 8 años trabajando sus propias tierras y aprendió su profesión gracias a sus padres y ahora quiere mejorar su producción por ello solicita un crédito para la compra de insumos para preparar la tierra como lo son semillas, abonos y fertilizantes.

Este crédito será de gran ayuda pro que le permitirá mantener un ritmo de trabajo y consolidar un cultivo prospero para pensar en una familia y tener el medio de poder sostenerlos y alimentarlos diariamente.

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

  • $6,070
    Average annual income
  • 138
    View loans »
    Colombia Loans Fundraising
  • $12,798,200
    Funds lent in using Kiva
  • 1,846.7
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $550 helped Victor Alfonso to purchase supplies for preparing the land, such as seed and compost, and irrigation.
25% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 26, 2014
Listed
Jul 31, 2014
Currency Exchange Loss:
Possible