Uriel is 45 years old and he is a pig farmer, an activity he has inherited from his father.
He lives with his wife and their 13-year-old son, whom he cares for making sure they do not lack any basic necessity they need.
Thanks to the growth of his activity he has succeeded in building his house and in to paying for this son’s education.
His biggest dream is to succeed in expanding his activity, as the request rate of pig meat in his community is higher than the production rate. For this reason he is requesting a loan that he will use to buy piglets and pay for the concentrate feed needed to raise them, in order to improve his economic conditions and to take advantage of the requests in his area.
Uriel de 45 años, es un campesino dedicado a la cría de cerdos, actividad que heredó de su padre.
Vive con su esposa y un hijo de 13 años de edad, por los cuales vela a fin de que no carezcan de ninguna necesidad básica.
Con el desarrollo de su actividad a logrado construir su vivienda y brindarle a su hijo educación.
Su mayor sueño es poder ampliar su negocio ya que el nivel demandado de carne de cerdo es mayor que el de producción en su localidad. Por esta razón se encuentra solicitando un crédito que invertirá en la compra de lechones, cuido y concentrado para el levante, con el fin de mejorar su situación financiera y aprovechar la demanda del sector.
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.