Approximately ten years ago, Henoc began his business selling animals, which he learned empirically. This is how he has been able to take care of his family. In the beginning, he could save very little, and this is why he bought a very small cow. But little by little, he got ahead with his business, and now he has better income. He has two customers that have given him orders, but he doesn't have enough capital. Henoc is looking for a loan to buy two horses to respond to his customers' orders. He hopes to keep improving his business little by little and to keep offering a better quality of life in his home. His dream is that the income he receives lets him finish building his house, which is under construction, so he can offer his wife and children a good home.
Henoc comenzó hace más o menos 10 años con la actividad de la venta de animales la cual aprendió empíricamente y es con la que ha logrado sacar adelante a su familia. En un principio contaba con muy pequeños ahorros y por eso compró una res muy pequeña, pero poco a poco fue sacando el negocio adelante y ahora puede tener mejores ingresos. Como tiene 2 clientes que le están haciendo un pedido, pero no tiene el capital suficiente, Henoc busca un préstamo para comprar 2 caballos y responder a los pedidos de sus clientes.
Henoc espera seguir mejorando el negocio poco a poco y seguir ofreciendo en su hogar una mejor calidad de vida. Su sueño es que los ingresos que recibe le permitan terminar de construir su casa que la tiene en obra negra, y así ofrecer a su esposa y sus hijos un buen hogar.
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.