Henry is an entrepreneur who, approximately seven years ago, decided to start his own business. He learned about agriculture from his father, and has been doing this activity on his own. He has a blackberry crop, lilies, and tree tomatoes which he sells to generate income to support the household expenses.
He has seen how the winter has affected the quality of his crops, which means they urgently require a spraying of fertilizers, insecticides, and fungicides so that his crop will be of the best quality possible. However, he does not have sufficient capital to buy these things, which is why he hopes that a loan will give him the chance to buy the fertilizers, insecticides, and fungicides to spray on his crops and guarantee their quality.
He dreams that his crop will grow and he will have great sales from it, which will generate income that will allow him to give his parents a good quality of life and economic stability. In addition, he wants to save to enter into higher education, because so far his low income has not allowed for this.
Henry es una persona emprendedora que desde hace aproximadamente 7 años decidió montar su propio negocio. De su padre aprendió la actividad de la agricultura, y ha venido desempeñando esta actividad por cuenta propia. Henry tiene en su cultivo cosechas de mora, cartuchos y tomate de árbol, los cuales vende para poder generar los ingresos con los que sostiene los gastos del hogar.
Henry ha visto como el invierno ha afectado la calidad de sus cosechas, por lo que requiere urgentemente de el riego de fertilizantes, insecticidas y fungicidas que le permitan tener su cultivo de la mejor calidad posible. Sin embargo, Henry no cuenta con el capital suficiente para realizar estas compras, por lo que espera a que un préstamo le brinde la posibilidad de acceder a la compra de fertilizantes, insecticidas y fungicidas para regar en sus cultivos y garantizar la calidad de los mismos.
Henry tiene el sueño de que su cultivo crezca y tenga grandes ventas de este, de modo que pueda generar ingresos que le permitan brindarles a sus padres una buena calidad de vida y una estabilidad económica. Además, Henry quiere ahorrar para poder ingresar a una educación superior, pues hasta el momento sus bajos ingresos no se lo han permitido.
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.