Luis Iván, 25, has been working in agriculture since his infancy. His father was his mentor because this activity has been his family’s source of support for generations. Thanks to the experience gained during his years working, this young man decided to apply his skills to gain the most advantage out of what he knows how to do best. He built a nursery where he’s planted tomatoes for dressing. With this business idea, Luis hopes to improve his income and guarantee a good education and trouble-free growth for his two-year-old son.
His greatest dream is to acquire his own land and improve his quality of life. He’s currently asking for a loan to buy farm supplies like manure, insecticide and fungicide. He hopes this investment will make it possible for him to improve his crop yields.
Luis Iván de 25 años de edad, es un campesino dedicado a la agricultura desde su infancia. Su padre fue su mentor, debido a que esta actividad ha sido por generaciones la fuente de sustento para su familia. Gracias a la experiencia adquirida durante años de trabajo, este joven decidió aplicar sus conocimientos y sacarle provecho a lo que mejor sabe hacer, realizó un invernadero en donde tiene sembrados de tomate de aliño. Con esta idea de negocio, Luis espera poder mejorar sus ingresos y garantizarle a su hijo de dos años de edad una buena educación y un libre desarrollo.
Su mayor sueño es poder adquirir su propio terreno y mejorar su calidad de vida. En la actualidad se encuentra solicitando un crédito para la compra de insumos agropecuarios como abonos, insecticidas y fungicidas. Desea que esta inversión le permita mejorar la productividad de su cultivo.
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.