Hernando has spent most of his life working in agriculture which he learned when he was a very young boy from his father working at his side. With a crop of coffee and another of sugar cane, he earns the income needed to pay the household expenses of his wife and two children who are 14 and 16 years old, and although he always has financial difficulties of cash for his business his efforts have permitted him to expand and improve his crops little by little.
Currently he has a large production of coffee that because of weather conditions he is losing, and as he does not have enough capital Hernando has no other option but to seek a loan in order to buy fertilizers, insecticides and fungicides to forge ahead with his coffee crop and protect it from the strong weather.
His dream is to expand his crops and thus improve his income in order to give his family a better quality of life and better opportunities in order to get ahead.
Hernando se ha dedicado durante casi toda su vida a la actividad de la agricultura la cual aprendió por parte de su padre desde muy niño para trabajar a su lado. Con un cultivo de café y otro de caña de azúcar, genera los ingresos que necesita en su hogar para sostener los gastos de su esposa y sus 2 hijos de 14 y 16 años de edad, y pese a que siempre ha tenido dificultades económicas y de capital para el negocio su esfuerzo le ha permitido ir poco a poco creciendo y mejorando sus cultivos. Actualmente tiene una gran producción de café que por dificultades del clima está perdiendo, y como no cuenta con el capital suficiente a Hernando no le queda otra opción que buscar un préstamo para comprar abonos, insecticidas y fungicidas para sacar adelante su cultivo de café y preservarlo de los fuertes climas.
Su sueño es ampliar los cultivos que tiene y así mejorar sus ingresos pára ofrecerle a su familia una mejor calidad de vida y mejores oportunidades económicas para salir adelante.
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.