Jonathan is an enterprising man with many desires to progress. He is certain that the only way to do so is through hard work. His family is the most important thing in his life and he wants to become a successful small businessman so that he can offer his children a better quality of life so that they don’t have to want for anything. He raises pigs and has been doing so for three years. He has nine pigs but he wants to increase his production because he has good local demand. He is asking for this loan to buy pigs and fatten them up quickly so that he can take advantage of the end of the year. He also wants to build a second corral in order to shelter a large number of pigs. His greatest desire is to see his family happy and be able to consolidate his business.
Jonathan es un joven emprendedor y con muchos deseos de progresar, tiene claro que la única forma de lograrlo es trabajando duro. Su familia es lo más importante en su vida, y por ellos es que desea convertirse en un microempresario de éxito para ofrecerles una mejor calidad de vida y que no tengan que pasar ningún tipo de necesidades. Se dedica a la porcicultura desde hace tres años, en la actualidad cuenta con 9 lechones pero desea incrementar su capacidad de producción debido a que tiene buena demanda en su localidad. Por esta razón se encuentra solicitando un crédito para la compra de cuido de engorde y poder venderlos más rápido aprovechando la temporada de fin de año, también espera poder construir un segundo corral para albergar mayor número de cerdos. Su mayor deseo es ver a su familia feliz y poder consolidar su negocio.
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.