Elkin is a 35-year-old farmer who works in farm labouring, work he learned by family tradition. The most important reason to move forward is his four dependent sons; he dreams of being able to offer them a better quality of life.
Currently he has tamarillo, bean and pea crops, products that he sells in the marketplace in his municipality. Elkin is a man with a great desire for success and he is sure that the only way to achieve it is to work hard. For this reason he works from five o'clock in the morning to six o'clock in the evening everyday. His greatest dream is to offer his family a better quality of life without financial lack.
With the hope of improving his production, Elkin is applying for a loan to use to buy seeds and farming fertilizers that will allow him to increase his income and ensure better living conditions for his family.
Élkin es un campesino de 35 años de edad dedicado a las labores agrícolas, actividad que aprendió por tradición familiar.
La razón más importante para salir adelante son sus cuatro hijos menores de edad, a los que sueña poder ofrecerles una mejor calidad de vida.
En la actualidad tiene cultivos de tomate de árbol, fríjol y arveja, productos que comercializa en la plaza de mercado de su municipio.
Élkin es un hombre con muchos deseos de salir adelante, y está seguro que la única forma de lograrlo es trabajar fuertemente, por lo cual labora diariamente de cinco de la mañana a seis de la tarde.
Su mayor sueño es ofrecerle a su familia una mejor calidad de vida, sin ninguna carencia económica.
Con la esperanza de mejorar su producción, Élkin se encuentra solicitando un crédito que destinará para la compra de semillas y fertilizantes agrícolas, que le permitirán aumentar sus ingresos y garantizarle a su familia mejores condiciones de vida.
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.