Jesús is thirty-five years old and lives in the rural zone in the town of Támesis, Colombia. He is a country man that has made a living for his entire life in working the land as his only source of livelihood. He learned this activity from his father. He is dedicated and strong in his work, and rises every morning at 5:30AM to begin his labor.
He takes care of his animals and later works in agriculture. Presently, he has a piece of rented land where he has some calves. He wishes to grow his number of animals, which is why he is requesting a loan. He will use the loan to buy four calves to raise.
His greatest dream is to be able to have his own piece of land in order to generate a better income and to offer his family a better quality of life.
Jesús de 35 años, viven en la zona rural del municipio de Támesis, Colombia. Es un campesino que ha dedicado toda su vida a trabajar la tierra como única fuente de sustento, esta actividad la aprendió de su padre. Dedicado y esforzado a su trabajo, todos los días se levanta a las 5:30 de la mañana para comenzar su faena, cuida de sus animales y posteriormente se dedica a la agricultura. En la actualidad tiene un lote arrendado en donde tiene una terneras, pero desea incrementar el número de animales por lo cual se encuentra solicitando un crédito con el que desea comprar 4 terneras para la cría. Su mayor sueño es poder tener un lote propio para generar mayores ingresos y ofrecerle a su familia una mejor calidad de vida.
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.