Belén is 46 years old and comes from a rural family that traditionally worked their whole lives with dairy. Since 2002 she started a business that consists of the purchase and sale of milk. Since this time she worked in different paddocks in a path located in the municipality of Ceja, Columbia. Her husband helps her on occasion due to the fact that he works cultivating flowers.
Her primary clients are dairy, cheese, and particular companies. Her main motivation is her four children, three of which are adults. She dreams of giving her children a better quality of life and a good education.
Belén finds herself requesting a loan with the goal to buy a dairy cow that will allow her to improve her income and gain a better quality of life for her and her family.
Belén de 46 años de edad, proviene de una familia campesina que por tradición han trabajado toda la vida con lechería. Desde el año 2002 empezó su negocio el cual consiste en la compra y venta de leche, desde entonces labora en diferentes potreros de una vereda ubicada en el municipio de la Ceja, Colombia. Su esposo le colabora en ocasiones, debido a que trabaja en un cultivo de flores, Sus principales clientes son empresas lecheras, queseras y particulares. Su mayor motivación son sus cuatro hijos, de los cuales tres son menores de edad. Sueña con poderles ofrecer una mejor calidad de vida y que tengan acceso a un buena educación. Belén se encuentra solicitando un crédito con el fin de comprar una vaca lechera que le permita generar mayores ingresos y acceder a una mejor calidad de vida a ella y 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.