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María Magdalena
Magdalena is 66 years old, lives with her husband, and is the mother of 2 children. She has always lived in the country, where she has learned all the farming disciplines. Together with her husband, she currently has various kinds of crops on the farm where she lives. To obtain income for her home, she sells the products that they harvest.

She is described as being a hardworking, dedicated, and hardworking person. In spite of financial difficulties, she has always sought ways that allow her to advance. For this reason, she is inspired to ask for this loan, which she wants to use to buy farming supplies (manure, pesticide, and fertilizer). In addition, she will buy 2 calves and complement their farming activities with raising cows.

In this way, more opportunities will be opened for her to obtain income and continue providing for her home. In addition, she dreams to expand her crops and increase her head of cattle, since she has plenty of land to do so. In this way, Magdalena will be able to improve the well-being and quality of life of her entire family.
View original language description ↓
Magdalena con 66 años de edad, vive con su esposo y es madre de 2 hijos. Siempre ha vivido en el campo, donde ha aprendido todas las labores agropecuarias y actualmente, en compañía de su esposo tiene cultivos de varios productos en la finca donde reside, y para obtener los ingresos para su hogar, ella vende los productos que cosechan. La titular es una persona trabajadora, dedicada y luchadora, a pesar de las dificultades económicas, ella siempre busca opciones que le permitan avanzar, por eso se motiva para solicitar el crédito, pues desea invertirlo en la compra de insumos agrícolas (abonos, pesticidas, fertilizantes) y también comprará 2 terneras de levante, para complementar su actividad agrícola con la ganadería, de esta forma se abrirá más oportunidades para obtener los recursos y seguir aportando con el sustento de su hogar, además sueña con ampliar sus cultivos y aumentar las cabezas de ganado, ya que cuenta con suficiente terreno para tenerlo. Así, Magdalena podrá ir mejorando el bienestar y la calidad de vida de toda la familia.

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
  • 306
    View loans »
    Colombia Loans Fundraising
  • $18,296,125
    Funds lent in using Kiva
  • 1,881.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped María Magdalena buy farming supplies (manure, pesticide, and fertilizer) and 2 calves.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Jun 21, 2013
Jul 24, 2013
Currency Exchange Loss:
Jan 17, 2015