Manuel currently grows bananas and cassava. He works every day by selling his harvested crops at the plaza market in the town of Turbo. Thanks to his 11 years of experience, he is fully capable of working and being an adviser in these types of trade.
The loan he is requesting will be used to buy the necessary materials for building a drainage system for his crops. These materials consist mainly of water pipes, tubes, and other items. With this loan, he will be able to take care of his crops during possible floods and continue working to support his family. Manuel has a great deal of faith in his business and high hopes from caring people.
Es humilde y sencillo, tiene un gran don de gente y energía suficiente para poder cualquier cultivo a producir.
El tiene un cultivo de plátano y yuca el cual trabaja todos los días para vender sus cosechasen la plaza de mercado del municipio de Turbo.
Gracias a sus 11 años de experiencia tiene plena capacidad para trabajar y para asesorar en estos temas.
El solicita el crédito para comprar los materiales necesarios para construir el desagüe de su cultivo, estos materiales son principalmente canales de agua, tubos, entre otros.
Con el préstamo podrá cuidar su cultivo de posibles inundaciones y continuara trabajando para sostener a su familia.
Tiene mucha fe en su negocio y grandes esperanzas en las personas solidarias.
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 InformationThis 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.
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This loan has been fully funded!