Elkin is 28 years old and retains a strong desire to get ahead, searching for a better future for himself and his parents. On his lane, he is known as a 'boy entreprenuer', always pressing ahead and working hard. Since he was a child, Elkin has loved the countryside. having lived all his life in rural San Rafael municipality, Colombia.
Filled with projects and with a grand vision for the future, Elkin began his entreprenuerial project on his father's farm some 2 years ago. His father loaned him a parcel of land on which to plant coffee and sugar cane. Elkin's dream is to be able to expand his business and introduce added value to the harvest, allowing him to obtain greater earnings. For this reason, Elkin is requesting a loan to purchase manure in order to generate better product quality.
Elkin is convinced that quality is one of the factors in attracting customer loyalty, and since he lacks the money to achieve the investment on his own, he is turning to a loan to do so.
Élkin tiene 28 años de edad, y lo que le sobran son ganas de salir adelante en búsqueda de un mejor futuro para el y sus padres. En su vereda lo conocen como un chico emprendedor, esforzado y muy trabajador. Desde niño a sido amante al campo, pues toda su vida ha vivido en la zona rural del municipio de San Rafael, Colombia.
Lleno de proyectos y con una gran visión hacia el futuro, Élkin comenzó con su proyecto de empresa en la finca de su padre hace 2 años, el cual le prestó una parcela para la siembra de café y caña de azúcar. Su anhelo es poder expandir su negocio e introducir valor agregado a su producto, lo que le permitirá obtener mayores ganancias. Por esta razón se encuentra solicitando un crédito el cual invertirá en la compra de abono para generar productos de mayor calidad.
Élkin está convencido que la calidad es uno de los factores para fidelizar sus clientes y como no cuenta con el dinero para realizar dicha inversión a recurrido a la solicitud de un crédito para materializarlo.
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.