Efraín, age 33, is a farmer. He loves the land, and he affirms that his greatest happiness is being able to share and enjoy nature. He learned about agriculture and livestock when he was a boy. He took advantage of this knowledge in order to create his own business. He now raises livestock and sells the milk.
His biggest dream is to be able to give his family a better quality of life and ensuring that his two minor children get a good education.
In order to realize his wishes, Efraín is requesting a loan to buy a dairy cow. By doing so he hopes to generate greater income and to pay for the household necessities.
Efraín es un campesino de 33 años de edad, ama el campo y asegura que su mayor felicidad es poder compartir y disfrutar de la naturaleza. Desde niño aprendió de la agricultura y la ganadería, por lo cual aprovechó sus conocimientos para crear su propio negocio. Hoy se dedica a la ganadería y la comercialización de leche.
Su mayor sueño es poder brindarle a su familia una mejor calidad de vida y a sus dos hijos menores de edad garantizarles una buena educación.
Con el fin de cumplir sus deseos Efraín se encuentra solicitando un crédito que invertirá en la compra de una vaca productora de leche, con la que espera generar mayores ingresos y solventar las necesidades del hogar.
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.