Wilson de Jesús is a man who emigrated from his town in search of a better life alternative. Some time ago he had to leave his town to look for better economic stability in the town of Marinilla in the east of Antioquia Department where he saw farming as a possible source of income. He learned farming in this town and since then it’s been his source of income through bean and celery farming. Currently, at the age of 39 and with a home consisting of his wife and two children, Wilson de Jesús seeks to increase his income to improve the quality of life for his household members and a way of doing this is to increase the amount of products he farms. He would like to invest in a new crop of cilantro and for this reason he needs to purchase seeds, fertilizers, irrigation supplies, fertilizers, and wood and wire to be able to fence in his crop and in this way comply with his dream.
El señor Wilson de Jesús es un hombre que salió de su municipio en busca de una mejor alternativa de vida, pues hace algún tiempo se trasladó hacia el municipio de marinilla, al oriente del departamento de Antioquia, donde vio la agricultura como su posible fuente de ingresos; allí aprendió esta actividad y desde entonces esta ha sido su fuente de ingresos, donde sus principales productos son la siembra de fríjol y apio. Actualmente, con 39 años de edad y un hogar conformado por su esposa y sus 2 hijos, Wilson de Jesús busca poder aumentar sus ingresos para mejorar la calidad de vida de su familia, y una manera de lograr esto, es aumentando la cantidad de productos que siembra, para la cual desea iniciar un nuevo cultivo de cilantro para el cual requiere de la compra de semillas, abonos, riegos, fertilizantes y materiales tales como madera y alambre para poder cercar su cultivo y así cumplir su sueño.
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.