At age 36, Claudia Patricia has been cultivating tomato trees, avocados, curaba, and onions for 10 years on her small farm located on a path from the municipality of Sonsón which is located to the east of Antioquia. This activity gives her the income to care for and sustain her two children who are 6 and 14 years old. With the intention of reviving her tomato tree crop which reduced its production due to the winter, Claudia Patricia needs to buy fertilizers, hoses, and insecticides. With these items she will be able to carry out her objective and therefore be able to improve the quality of life of her children and fulfill her dream of seeing her farm being very productive.
A sus 36 años de edad, la señora Claudia Patricia se dedica desde su pequeña finca ubicada en una vereda del Municipio de Sonsón localizado al oriente de Antioquia al cultivo de tomate de árbol, aguacate, curaba y cebolla desde hace 10 años, dicha actividad la da los frutos para el cuidado y sostenimiento de sus dos hijos de 6 y 14 años de edad. Con el ánimo de reactivar su cultivo de tomate de árbol el cual redujo su producción debido al invierno, la señora Claudia Patricia necesita de la compra de abonos, riegos, fertilizantes e insecticidas con los cuales pueda cumplir su objetivo y así poder mejorar la calidad de vida de sus hijos y cumplir su sueño de ver su finca bien productiva.
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.