The young man Juan Felipe is an agricultural worker in a district in the town of Fredonia, located in the south of Antioquia. He is the father of a 19-month-old baby for whom he needs to begin again, with the business of raising and selling chickens. Currently he has only one pig that his father gave him, and he needs income for the support and care of his family in the house of his father-in-law, who gave him a small space on the patio.
He wants to build a chicken coop and buy 50 of these animals and feed for them, to start over again.
With this, young Juan Felipe will be able to improve his quality of life and that of his family, and support his father who is an adult of advanced age.
El joven Juan Felipe es un campesino de una vereda del municipio de Fredonia localizado al sur de Antioquia y quien es padre de un bebe de 19 meses de edad y por quien necesita reiniciar con el negocio de cría y venta de pollos puesto que actualmente cuenta solo con un cerdo que su padre le regalo y requiere de ingresos para el sostenimiento y cuidado de su familia, en la casa de su suegro quien le dono un pequeño espacio en un patio, desea construir la vivienda para los pollos y comprar 50 de estos animales y su respectivo cuido para iniciar de nuevo. Con lo anterior, el joven Juan Felipe podrá mejorar su calidad de vida y la de su familia y apoyar a su padre quien es un adulto de avanzada edad.
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.