José Arnulfo, age 57, is a great lover of the fields. He has devoted himself to farming and livestock work all of his life. He worked for over eight years on a farm where he learned about pig farming. That is why he decided to quit his job and use the severance pay to establish his own business.
He bought a plot of land where he devoted himself to raising and fattening pigs. This business activity allows him to support his wife and five children.
He is currently requesting a loan to buy two pigs to raise and to buy concentrated feed. He will do this in order to increase his income. His biggest dream is to be able to build his own house on the lot that he bought. He wants to do this in order to improve his family’s quality of life.
José Arnulfo de 57 años de edad es un gran enamorado del campo, toda su vida se ha dedicado a las labores agropecuarias y ganaderas. Laboró por más de 8 años en una granja en donde aprendió sobre la porcicultura, por lo cual decidió retirarse de su empleo y con la liquidación decidió montar su propio negocio. Compró un lote, en donde se dedicó a la cría y engorde de cerdos, actividad que le permite llevar el sustento a casa para su esposa y sus 5 hijos. En la actualidad se encuentra solicitando un crédito para comprar dos cerdos para la cría y concentrado con el fin de aumentar sus ingresos. SU mayor sueño es poder construir su propia vivienda en el lote que compró para mejorar la calidad de vida de 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.