Gonzalo has been working in the country all his life, breeding calves and goats to be able to provide for his family, composed of 12 children.
It’s thanks to this activity that Gonzalo has been able to offer an education to his children as well as to reach a good standard of living.
He runs his activity at the back of his house, and in order to increase his income he needs to buy more animals that he will breed and then sell. He would also like to expand his activity in order to gain new customers.
El señor Gonzalo toda su vida a trabajado en el campo con la cría de terneros y cabras para así poder sostener su familia que está conformada por 12 hijos.
Fue con este negocio como Gonzalo ha podido darles estudio a sus hijos y además ha podido tener una buena calidad de vida.
Su negocio está ubicado en la parte de atrasa de su casa y para poder mejorar sus ingresos el necesita comprar mas animales para criarlos y luego venderlos, además el quiere ver su negocio mas grande y así poder tener nuevos clientes.
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.