Marco Aurelio is 39 years old. He is a farmer from the Vereda Betania in the town of Carmen de Viboral, Colombia. His hole life, he has worked in farming and cattle raising. These activities have made him into a main support of his nuclear family, which is made up of his wife and three minor children.
Right now, he milks two cows and grows corn. In order to improve his harvest, Marco is asking for a loan to invest in buying fertilizer and irrigation equipment to increase and improve his production capacity.
His biggest worry is price fluctuations that constantly causes losses in the agricultural and livestock sector, directly affecting the farmers in the region. Marco hopes to be abel to generate financial stability to support his family and raise his three minor children.
Marco Aurelio de 39 años de edad es un campesino de la Vereda Betania del municipio del Carmen de Viboral, Colombia. Toda su vida se ha dedicado a la agricultura y la ganadería, actividades que se han convertido en el pilar para el sostenimiento de su núcleo familiar compuesto por su esposa y tres hijos menores de edad.
En la actualidad se dedica al ordeño de dos vacas y al cuidado de sus cultivos de maíz. Con el propósito de mejorar su cosecha, Marco se encuentra solicitando un crédito que invertirá en la compra de abonos y riegos para incrementar y mejorar su capacidad de producción.
Su mayor preocupación es la fluctuación en los precios que ocasionan constantemente pérdidas para el sector agropecuario. Afectando directamente a los campesinos de la región.
Marco espera poder generar una estabilidad económica para el sostenimiento de su familia y la educación a sus tres hijos menores de edad.
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.