Luis Fernando is a resourceful young farmer aged 22 with many ideas he wants to turn into big life projects. He lives with his family in a sector of the town of Argelia, Colombia. He mainly engages in planting coffee, beans and avocados. He every day he works with his brothers from 5 am to 4 pm, and once he has completed his tasks he reaches one of the schools of his area to attend secondary education classes. He dreams of becoming a good administrator, as his biggest wish is to transform the farm of his family in a big company.
He is currently requesting a loan to invest it in the purchase of manure and farming supplies for his crops. This will grant him first quality products thorough which he will increase his earnings.
Luis Fernando de 22 años de edad es un joven campesino, emprendedor y con muchas ideas que quiere convertir en grandes proyectos de vida. El y su familia residen en una vereda del municipio de Argelia, Colombia. Se dedica principalmente a la siembra de cultivos de café, fríjol y aguacate. Labora todos los días de 5 de la mañana a 4 de la tarde en compañía de sus hermanos. Después de terminar su faena se dirige a estudiar su secundaria en una escuela de la vereda. Sueña con ser un gran administrador, porque su mayor meta es poder convertir la finca familiar en una gran empresa.
En la actualidad se encuentra solicitando un crédito que invertirá en la compra de abono e insumos agropecuarios para sus cultivos, lo que le permitirá sacar productos de calidad y aumentar sus ingresos.
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.