Ricardo has worked in agriculture for 12 years, because his father does this work and he had to work alongside his father to be able to help with the family's economic situation. Later, he got other jobs where he learned to raise cattle, and therefore one day, he decided to start working independently with his own cattle. Nowadays he has some raised cattle with which he hopes to respond to a customer's order, but as another customer has made a large order, Ricardo needs a loan to purchase 5 heads of cattle to respond to the demand of one customer.
His dream is to have a big business which generates big profits and therefore to be able to get his own house.
Ricardo ha trabajado desde los 12 años en la actividad de la agricultura ya que su padre se dedicaba a esta actividad y le tocaba trabajar a su lado para poder ayudar con la situación económica de la familia. Posteriormente consiguió otros trabajos donde aprendió la crianza de ganado y así un día decidió comenzar a trabajar de manera independiente con sus propios ganados. Actualmente tiene unos ganados de levante con los que espera responder a un pedido de un cliente, pero como otro cliente le ha hecho un gran pedido, Ricardo necesita un préstamo para comprar 5 cabezas de ganado para responder a la demanda de un cliente.
Su sueño es poder tener un gran negocio que le genere mejores ingresos y así poder conseguir su casa propia.
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.