Hector is 54 years old and comes from an agricultural background which he inherited from his parents. All of his life he has worked in agriculture, and for six years he has been breeding and raising chickens, which he sells in local shops and markets. Thanks to this business his living conditions have improved considerably. His greatest dream is to expand his coops and breed laying hens in order to become the biggest distributor of eggs in the region, though he knows this is a longer-term goal.
Currently he is soliciting a loan in order to purchase broiler chickens, with the end goal of increasing his production capacity and improving his income so he can guarantee a better quality of life for his family and begin to realize his dream.
Hector de 54 años de edad, es de procedencia campesina, oficio que heredó de sus padres. Toda su vida ha laborado en la agricultura y desde hace seis años alterna su oficio con la cría y levante de pollos de engorde, los cuales comercializa en su municipio en tiendas y supermercados. Gracias a esta actividad su condición de vida ha mejorado considerablemente. Su mayor sueño es ampliar sus galpones y tener gallinas ponedoras para convertirse en el mayor distribuidor de huevos en su municipio, pero es conciente que este será un proyecto a mediano plazo.
En la actualidad se encuentra solicitando un crédito para la compra de pollos de levante, con el fin de aumentar su capacidad de producción y mejorar sus ingresos para garantizarle una mejor calidad de vida a su familia y comenzar a materializar su gran sueño.
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.