'Dedication' is the word which best describes Fernando León. At 44 years of age, this man must play the role of both father and mother to his son as his wife left them some time ago. Dedicated to his vegetable business, Fernando León has been able to make the income he needs to provide for his household. His dream is for his business to grow a lot more so that he can provide his son with everything he needs.
Dedicación es la palabra con la que mejor se puede describir a Fernando León. Este hombre a sus 44 años, debe hacer el papel de padre y madre para su hijo, pues esta abandonó el hogar hace un tiempo. Dedicado a su legumbrería, Fernando León a podido generar los ingresos necesarios para el sostenimiento de su hogar, y su sueño es que su negocio crezca mucho más para poder brindarle a su hijo todas las necesidades que requiere.
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.