Herminsul has been working for some 4 years raising and selling livestock, and it is with this business that he has succeeded in covering the expenses of his household, where he lives with two children, ages 10 and 13. And since their mother abandoned them some time ago without making any economic contribution for their support, all the economic responsibility falls upon him. Seeking to respond to the orders of his customers and to be able to improve the economic situation of his household, Herminsul seeks a loan to buy a calf and respond to his customers with the orders he has.
His dream is to be able to move his business forward and that this continues allowing him to overcome the great adversities that have been presented to him in life. In addition, he hopes that his family can have a better quality of life and bigger economic opportunities to advance. Herminsul hopes to be able to offer his children an education of better quality.
Herminsul se dedica desde hace unos 4 años a la actividad de la crianza y venta de ganado, y es con esta actividad que ha logrado cubrir los gastos de su hogar donde convive con sus 2 hijos de 10 y 13 años de edad, y ya que su madre los abandonó hace un tiempo sin hacer alguna contribución económica para su sostenimiento, toda la carga económica recae encima suyo. Buscando responder a los pedidos de sus clientes y poder mejorar la situación económica de su hogar, Herminsul busca un préstamo para comprar un ternero y responder a sus clientes con los pedidos que tiene.
Su sueño es poder sacar su negocio adelante y que este le siga permitiendo superar las grandes adversidades que se le han presentado en la vida. Además, aspira a que en su familia puedan tener una mejor calidad de vida y mayores oportunidades económicas para salir adelante. Herminsul espera poder ofrecerles a sus hijos una educación de mejor calidad.
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.