Luis Fernando has always seen it as a great advantage to be able to work independently, since this way he does not have to observe a strict responsibility for a job that may be poorly paid. That is why ever since he learned to farm he has made a living by growing his crops and from this he generates the income needed for his home.
Luis Fernando is married and has one son for whom he has always wanted to provide a college education. However, financial difficulties have made this something he has had to postpone for some time.
Wanting to increase his crops, Luis Fernando is requesting a loan that will provide him with the chance to buy supplies he needs to be able to work on his farm. Luis Fernando hopes that in this way his monthly income will not be affected by purchasing the supplies he needs for his farm. Furthermore, he hopes to move ahead with his farm and thus be able to offer his family a better quality of life and better economic opportunities.
Luis Fernando siempre ha visto una gran virtud el poder trabajar de manera independiente, pues así no tiene que cumplir una estricta responsabilidad con un trabajo que sea mal remunerado. Es por esto que desde que aprendió la actividad de la agricultura se ha dedicado a sacar sus cultivos adelante y desde este generar los ingresos necesarios para su hogar. Luis Fernando se encuentra casado y tiene 1 hijo a quien siempre le ha querido ofrecer una educación universitaria, sin embargo, las dificultades económicas han hecho que esto sea algo que ha tenido que postergar desde hace un tiempo. Con el ánimo de sacar su cultivo adelante, Luis Fernando busca que un préstamo le brinde la posibilidad de acceder a la compra de insumos que requiere para poder trabajar en su cultivo.
Luis Fernando espera que de esta manera sus ingresos mensuales no se vean afectados por la compra de los insumos que requiere para su cultivo. Además, espera salir adelante con su cultivo y que este le permita ofrecer a su familia una mejor calidad de vida y mayores oportunidades económicas.
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.