Claudia is 24 years old and she engages in breeding and selling chickens in a small chicken shed (a place where the chickens live) located in the top story of her house. She has been trained in this activity from her parents, with whom she lived in a farm during her childhood and adolescence. Aiming at increasing her income and consequently her own standard of living as well as that of her two children aged 3 and one, Claudia needs to buy chickens to breed and concentrated feed to nourish them. Claudia dreams of having her own farm and to offer the best to her children, as they cannot count on their father’s support because he left her and them right after they were born.
La señora Claudia a sus 24 años de edad se dedica al engorde y venta de pollos desde un pequeño galpón (lugar de vivienda de pollos) adecuado en el solar de su casa. Esta actividad la aprendió de sus padres con quienes vivió su infancia y adolescencia en una finca. Con el ánimo de mejorar sus ingresos y así la calidad de vida de sus dos hijos de 3 y un año de edad, la señora Claudia necesita de la compra de pollos para engorde y concentrado para su alimentación. El sueño de la señora Claudia es tener su propia finca y brindarles lo mejor a sus hijos quienes no cuentan con el apoyo de sus padre quien se separo de ellos apenas nacieron.
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.