Ignacio, 52, is a man full of stories and events. His life has been a complete adventure. Sometimes he won and others he suffered, but experience has been his best reward. He's known in his town for being a fighter, for taking advantage of opportunities, and for making his own way when things don't go as they should.
He's a modest farmworker dedicated to farm labor since his youth. When he was 12 years old he decided to make a living selling bananas from a cart he leads through the streets of the town of Caucasia, Colombia, every day. He's full of ambition and goals, his main one being to improve living conditions for his wife and child, age 11. Being able to offer his child a decent life and a good education have become his greatest challenge.
This is why he's requesting a loan to buy a large quantity of bananas to increase his sales and generate more income.
Ignacio de 52 años de edad, es un hombre lleno de historias y hazañas, su vida ha sido una completa aventura en la que en ocasiones ganó y en otras padeció, pero la experiencia ha sido su mejor recompensa. En su municipio se caracteriza por ser un luchador, por aprovechar las oportunidades y por abrirse camino cuando las cosas no marchan como deberían. Es un humilde campesino dedicado desde su juventud a las labores del campo. Desde hace 12 años decidió dedicarse a la comercialización de plátanos en una carreta que diariamente conduce por las calles del municipio de Caucasia, Colombia.
Está lleno de ambiciones y metas; la principal es mejorar la condición de vida de su esposa y su hijo de 11 años de edad, poderle ofrecer una vida digna y una buena educación se han convertido en el mayor reto para él. Por esta razón se encuentra solicitando un crédito con el que comprará mayor cantidad de plátano para incrementar su volumen de ventas y generar mayores 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.