Jorge is married and has 3 children aged 3, 11, and 15 years old. In order to generate income for his household, he sells the milk from the cows he has at his farm.
Thanks to this business, he has succeeded in getting his children ahead and giving them a good quality of life with better economic opportunities for advancement. His biggest dream is to be able to provide a quality education for his children. This is why he works hard in his business, so much so that customer orders have increased considerably and he does not have the capacity to respond to all of them.
This is why he wants a loan, to buy two dairy cows and thereby respond to all customer orders and keep growing his business. Doing so, he will overcome the difficulty of capital and, at the same time, his family will have more income to achieve financial progress and to have a better quality of life at home.
Jorge se encuentra casado y tiene 3 hijos de 3, 11 y 15 años de edad, y para generar los ingresos de su hogar trabaja con la venta de leche la cual produce gracias a unas vacas lecheras que tiene en su finca. Gracias a este negocio ha logrado sacar sus hijos adelante y brindarle una buena calidad de vida y mejores oportunidades económicas para progresar. Su mayor sueño es terminar de brindarles una educación de buena calidad a sus hijos y para esto trabaja fuertemente en su negocio, tanto que en el momento los pedidos de sus clientes han aumentado considerablemente y no cuenta con la capacidad productiva para responder por todos estos; es por esto que busca un préstamo para comprar 2 vacas lecheras y así responder a todos los pedidos de sus clientes y seguir creciendo con su negocio.
De esta manera superará la dificultad de capital y también su familia podrá tener mejores ingresos para progresar económicamente y tener en su hogar una mejor calidad de vida.
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.