Amanda, 61, has become a model for her family. She has lived in the countryside all her life and done the household chores. She had no opportunity to go to school. Her dream has always been to work the family farmland and earn income to make a contribution to the household expenses. Her brothers graciously gave her money to start her business.
Amanda now has a vegetable garden. Although this was not her original dream, she wants to become the main supplier at her city market and offer a variety of produce. She is applying for a loan to buy seed, manure, and a fumigation pump. She expects this investment will increase productivity and improve her family's circumstances.
Amanda de 61 años de edad, se ha convertido en un ejemplo de vida para su familia. Desde su infancia ha residido en el campo, realizando labores de ama de casa, por lo cual las oportunidades que tuvo de acceder a la educación fueron nulas. Siempre soñó con poner a producir la tierra de la finca familiar, y generar ingresos para colaborar con los gastos de su hogar. Gracias a sus hermanos que le regalaron el capital inicial para iniciar con su idea de negocio, hoy Amanda se encuentra produciendo hortalizas. Su sueño no para acá, pues desea convertirse en la principal proveedora en el mercado de su municipio y ampliar la variedad de productos, por lo cual se encuentra solicitando un crédito que destinará para la compra de semillas, abonos y una bomba de fumigación.
Espera con esta inversión mejorar la productividad en su negocio y mejorar las condiciones económicas de la familia.
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.