Francisco is a livestock producer. He works on his farm which is located in Santuario, in the east of Antioquia department. On his farm he has animals such as hens, cattle, chickens, goats and fish. Francisco has devoted most of his life to this work and it has allowed him to get ahead in life together with his family which consists of his three daughters and his wife.
At 53 years of age, Francisco would like to have more cattle which will allow him to increase his income and thereby provide his three daughters, who are 10, 15 and 17, with an excellent education and to provide both them and his wife (who he loves very much) with a marvelous quality of life.
El señor Francisco es productor agropecuario en su finca ubicada en el municipio del Santuario al oriente de Antioquia. En su finca tiene animales como gallinas, ganado, pollos, cabras y peces. El señor Francisco ha dedicado la mayor parte de su vida a esta labor,la cual le ha permitido salir adelante con la compañía de su familia compuesta por sus tres hijas y su esposa.
A sus 53 años de edad el señor francisco desea tener un mayor número de ganado que le permita aumentar sus ingresos y de esta manera poder brindarles a sus tres hijas de 10, 15 y 17 años de edad una excelente educación y una calidad de vida maravillosa al lado de su esposa a quien tanto quiere.
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.