John learned the agriculture business starting when he was very small, thanks to that his father worked in it and taught him to work at his side. Now that he has 20 years of experience working in this business he can have high quality products and this allows him to improve his income for his home, where he lives with his wife and 2 children, 9 and 13 years old. The biggest challenge that he has always faced is the winter that frequently harms his crops, and he doesn't have enough capital to recover them. It is because of this that now that he has the opportunity, he is looking for a loan to buy fertilizers, irrigation and seeds to get his crop ahead and maintain it during the harsh winter.
His dream is to have a large farm and improve his income for his family and offer his wife and 2 children a better quality of life.
John aprendió la actividad de la agricultura desde que estaba muy pequeño gracias a que su padre se dedicaba a esto y se la enseñó para trabajar a su lado. Ahora que tiene una experiencia de unos 20 años realizando esta actividad puede tener productos de muy buena calidad y esto le permite mejorar los ingresos para su hogar donde convive con su esposa y sus 2 hijos de 9 y 13 años de edad. La gran dificultad que siempre ha padecido es el invierno que frecuentemente daña sus cultivos, y el no contar con un capital suficiente para recuperarlos; es por esto que ahora que tiene la oportunidad busca un préstamo para comprar abonos, riegos y semillas para sacar adelante su cultivo y preservarlo del fuerte invierno.
Su sueño es llegar a tener un gran terreno cultivado y mejorar los ingresos para su familia y ofrecerles una mejor calidad de vida a su esposa y sus 2 hijos.
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.