Oscar León is 22 years old and has been a farm worker since he was a boy. He raises onions, cilantro, and flowers. After having completed his military service, he returned to farm in Yolombó, Colombia so that he could continue with his grand passion of farming. One of his aunts loaned him a piece of land so that he could plant his crops. Every day he gets up at 5:00 am and works until 4:00 pm, tending the land and fertilizing his crops. He is asking for this loan so that he can invest in fertilizer and seed to produce in larger amounts and generate more profit. He hopes that the weather will cooperate so that he can have a good harvest and expand his business. His greatest dream is to be able to buy a parcel and turn himself into a great farmer.
Oscar León de 22 años de edad es un campesino que desde muy niño se ha dedicado a la actividad de la agricultura, cultivo de cebolla, cilantro y flor. Tras haber terminado de prestar el servicio militar, regresó a su vereda en el municipio de Yolombó, Colombia, para dedicarse nuevamente a su gran pasión la agricultura. Una tía le prestó un pequeño lote para que comenzara a sembrar sus cultivos, Todos los días se levanta desde las 5 de la mañana y labora hasta las 4 de la tarde arando la tierra y abonando sus siembras. En la actualidad se encuentra solicitando un crédito que invertirá en la compra de abono y semillas con el fin de producir a escala y generar mayores ingresos. Espera que el clima se coloque de su lado para sacar una buena cosecha y poder expandir su negocio. Su gran sueño es poder comprar una parcela y convertirse en un gran agricultor.
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.