Jamie is 48 years old and is a farmer who works in dairy. He has been doing this for 20 years and it has allowed him to offer his family a better quality of life. Every day he gets up very early to begin his task. His greatest dream is to be able to buy a lot on which to build his house. He is asking for this loan to buy two dairy cows to increase his milk production and generate greater income.
Jamie hopes to be able to have a greater number of livestock so that he can have a great dairy business and provide jobs for other people in the city.
Jaime de 48 años de edad, es un campesino dedicado a la lechería desde hace 20 años, esta actividad le ha permitido ofrecerle a su familia mejores condiciones de vida. Diariamente se levanta muy temprano para iniciar su faena. Su gran sueño es poder comprar un lote para construir su vivienda. En la actualidad se encuentra en búsqueda de un crédito con el que comprará dos vacas lecheras para aumentar la producción de leche y generar mayores ingresos.
Jaime espera poder capitalizarse para conseguir un mayor número de ganado con el fin de tener una gran empresa lechera y brindarles la oportunidad de empleo a otras personas de su municipio.
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.