Edison Arley is a young 19-year-old who wants to keep running the business that his family has passed down for generations. Edison is a beekeeper and extracts their honey for sale. His father taught him this business when he was barely 8 years old and he has worked on the business since then. He now wants to expand the collection of beehives that his father gave him. Edison dreams of having a large honey business and of being known for the high quality of his honey, along with being able to cover his parents' costs and improve their quality of life. However, because of the strong rains, the flowers have not grown enough to keep the bees fed; for this reason, Edison has to supplement their diet with sugar. In order to do this, Edison needs to buy food for his bees, as well as tools to expand his current collection of beehives.
Edison Arley es un joven de 19 años que quiere emprender el negocio que ha heredado su familia por largas generaciones. Edison se dedica al cuidado de abejas y la extracción de su miel para la venta, actividad que le enseñó su padre cuando apenas tenía 8 años y que ha desarrollado desde entonces, hasta el día de hoy cuando decide ampliar el apiario que le regalo su padre. Edison sueña con tener un gran negocio de mieles donde sea reconocido por su excelente calidad, además de poder pagar los gastos de sus padres y que mejoren su calidad de vida. Sin embargo, por las fuertes lluvias, las flores no han crecido lo suficiente para poder abastecer de alimento las abejas, por lo que se les debe complementar con azúcar, por esto, Edison requiere de la compra de alimento para sus abejas y los recursos para ampliar el apiario actual.
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.