Juan de Jesús, 54 years old, makes a living working from home by raising, buying and selling pigs in a suitable place he has for such activity. His working day has been from 5:00 a.m. until 5:00 p.m. for the last four years. Thanks to this activity he can provide for himself and for his two children.
Currently, Juan de Jesús needs to buy pigs with the aim of improving sales. He hopes to be able to improve his quality of life and in the future fulfil his dream of extending the housing for the pigs and of technifying his business.
El señor Juan de Jesús a sus 54 años de edad se dedica desde su casa a la cría, compra y venta de cerdos en un lugar adecuado que tiene para esta actividad, la cual realiza en una jornada de las 5:00 a.m hasta las 5:00 p.m. desde hace cuatro años. Gracias a esta actividad puede generar su sustento y el de sus dos hijos. Actualmente, el señor Juan de Jesús requiere de la compra de cerdos con el ánimo de poder mejorar sus ventas y poder mejorar su calidad de vida y a futuro cumplir su sueño de ampliar la vivienda de sus cerdos y tecnificar su negocio.
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.