María Cecilia works along with her five children in agricultural production, specifically buying and selling livestock and chickens.
María Cecilia wants to buy livestock and make home improvements such as fixing the floor and the roof of the place where her chickens live. This will allow her to increase her earnings and so be able to improve the living conditions and well-being of her family.
In the future María Cecilia wants to have her farm more productive and with more animals.
La señora María Cecilia se dedica junto con sus cinco hijos en su finca a la producción agropecuaria, específicamente a la compra y venta de ganado y pollos. La señora María Cecilia desea comprar ganado y realizar mejoras locativas tal como arreglo de piso y techo al lugar donde viven sus pollos. Lo anterior, le permitirá aumentar sus ingresos y de esta forma poder mejorar sus condiciones de vida y el bienestar de su familia. A futuro la señora María Cecilia desea tener su finca más productiva y con más animales.
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.