Diego works as a foreman in a farm, because the income that it generates is not sufficient to cover his household expenditure, he wants to make the most of the opportunity offered by his employer to rear cattle on the farm.
This is why Diego will start breeding cattle so that he can have an additional income to his salary, improving his family's finances, and consequently the quality of life in their home. As he doesn't have enough money to buy the cattle, Diego is seeking a loan to enable him to buy 4 breeding calves to start rearing cattle.
Diego's dream is to have a large business which would enable him to improve his income and offer his family a better quality of life.
Diego trabaja como mayordomo en una finca y debido a que los ingresos que allí genera no están siendo suficientes para el sostenimiento de los gastos de su hogar, quiere aprovechar la oportunidad que le da su empleador de tener ganado en la finca. Es por esto que Diego iniciará la actividad de la crianza de ganado para que de esta manera pueda generar ingresos adicionales a su salario, mejorando la economía de su familia y por ende la calidad de vida del hogar. Como no cuenta con un capital suficiente para la compra del ganado, Diego busca un préstamo que le permita comprar 4 terneras de levante para comenzar con la actividad.
Su sueño es llegar a tener un gran negocio que le permita mejorar sus ingresos y donde también pueda tener una mejor calidad de vida para su familia.
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.