Francisco, 48, works in agriculture and lives in a small community located in the municipality of Sonsón, Colombia. He lives with his wife and four children, two of them underage. Francisco works every day from 5 am to 4 pm, in a farm that belongs to the family. He is currently growing papa criolla [a small, yellow type of potato] and tamarillo, which have become a source of income and a way to support the family. Francisco loves his work, something that motivates him to work harder and harder every day. He thanks God for his immense goodness and the gift of having a wonderful family.
Francisco is requesting a loan to buy the supplies needed to expand his plantations and fertilize the ones he already has. He hopes to increase his income and satisfy his family’s basic needs. One of his major challenges is the changing weather, which affects his crops and causes economic losses.
Francisco de 48 años de edad es una agricultor residente en una vereda del municipio de Sonsón, Colombia. Vive con su esposa y cuatro hijos, de los cuales dos son menores de edad. Labora diariamente desde las cinco de la mañana hasta las cuatro de la tarde, en una finca de propiedad familiar. En la actualidad tiene sembrados de papa criolla y tomate de árbol, cultivos que se han convertido en la fuente de ingresos para el sostenimiento de su hogar.
Francisco ama su trabajo, razón que lo llena de motivos para dar lo mejor cada día y agradecerle a Dios por su inmensa bondad y el regalo de compartir con una familia maravillosa.
Hoy se encuentra solicitando un crédito que destinará en la adquisición de insumos para realizar nuevos sembrados y abonar los ya existentes. Espera poder generar mejores ingresos y satisfacer las necesidades básicas de su familia.
Uno de sus mayores retos es luchar contra los cambios climáticos que afectan sus cultivos y le ocasionan grandes pérdidas monetarias.
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.