Señor Luis Alberto, 51, makes his living by repairing bicycles and selling pigs. Thanks to these activities, Señor Luis Alberto has been able to provide for his two 18-year-old children and his wife. He has the pigs staggered so that he is able to sell some every month to the main butcher shops in the neighborhood of Urrao, located in southwestern Antioquia.
Luis Alberto wishes to make some expansions and improvements to the area where he keeps the pigs and purchase feed for 8 pigs he is raising. By so doing, Señor Luis Alberto will be able to finish feeding his animals so that he can sell them more quickly to generate income in a shorter time, which will help him provide a better quality of life for his family. He dreams of expanding his business to have a larger quantity and variety of animals, and of providing the best education for his two children.
El señor Luis Alberto a sus 51 años de edad, se dedica a la reparación de bicicletas y venta de cerdos. Gracias a esta actividad, el señor Luis Alberto ha salido adelante con sus dos hijos de 18 años de edad y su esposa. Los cerdos los tiene en forma escalonada para comercializarlos cada mes en las principales carnicerías del municipio de Urrao ubicado al suroeste de Antioquia. El señor Luis Alberto desea realizar adecuaciones locativas de ampliación y adecuación al lugar donde tiene los cerdos y comprar cuido para la alimentación de ocho cerdos que tiene en proceso de crecimiento. Con lo anterior, el señor Luis Alberto podrá terminar de alimentar a sus animales y así venderlos más rápidos para generar ganancias en corto tiempo y así brindar a su familia una mejor calidad de vida. El señor Luis Alberto sueña con ampliar su negocio y tener una mayor cantidad y diversidad de animales y brindarles a sus dos hijos la mejor educación.
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.