Hector has been working in agriculture for approximately 30 years, and has a cow that he milks. He sells the milk, and this way generates the income to support his household, consisting of himself, his wife and their seven children.
Hector has always been known for being very hard-working and for always seeking to move forward, together with his family. These qualities have allowed him to overcome great adversity that has arisen in his life.
With the aim of seeing his business continue to grow, Hector is seeking a loan that will offer him the chance to purchase a dairy cow. This will enable him to increase his production capacity and meet market demand.
Hector hopes that this way his monthly income will increase considerably, as he will be able to fill customer orders that before, because of limited capacity, he had to reject. As well, Hector hopes that with greater income, his family can enjoy a better quality of life and greater economic opportunities so that they can progress.
Hector se dedica desde hace aproximadamente 30 años a las actividades del campo, donde tiene una vaca a la cual la ordeña y vende la leche y de esta manera genera los ingresos necesarios para el sostenimiento de su hogar donde convive con su esposa y sus 7 hijos. Hector siempre se ha caracterizado por ser muy trabajador y siempre buscar salir adelante con su familia, cualidad que le ha permitido superar grandes adversidades que se le han presentado en la vida. Con el ánimo de seguir creciendo en su negocio, Hector busca que un préstamo le brinde la posibilidad de acceder a la compra de una vaca lechera con la cual pueda aumentar su capacidad de producción y atender la demanda del mercado.
Hector espera que de esta manera sus ingresos mensuales aumenten considerablemente, pues así podrá atender los pedidos de sus clientes que antes por poca capacidad debía rechazar. Además, Hector espera que con mayores ingresos su familia pueda gozar de una mejor calidad de vida y mayores oportunidades económicas para progresar.
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.