Mario is 57 years old, married, and has five children. All his life he has been working in the fields, having learned this from her father.
He currently raises onion, flowers, and cilantro; vegetables that he sells in town on Sundays. This is his family’s only source of income and his challenge is to work hard in order to have a good harvest.
His greatest challenge is the climate change that he faces at various times of the year. The heat and the winter harm his crops with occasional large losses.
He wants to be able to expand his production capacity since he does not use a part of the land, but he needs a loan to be able to make this investment. He will use the money to buy compost, irrigation, and seeds.
Mario de 57 años de edad, es casado y tiene cinco hijos. Toda su vida se ha dedicado a las labores del campo, oficio que aprendió gracias a su padre.
En la actualidad se dedica a la siembre de cebolla, flor y cilantro; legumbres que vende en el pueblo el día domingo. Esta actividad es la única fuente de ingresos para su familia por lo cual su gran desafío es esmerarse por sacar una buena cosecha.
Su mayor reto son los cambios climáticos a los que se enfrenta en varios periodos del año, el calor y el invierno arrasan con sus cultivos ocasionándole grandes pérdidas.
Desea poder ampliar su capacidad de producción, ya que tiene parte del terreno inutilizado, pero para ello a recurrido a un crédito debido a que no cuenta con los recursos para realizar dicha inversión. El dinero lo utilizará en la compra de abonos, riegos y semillas.
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.