Jesús is 38 years old, and has made a living farming since a young age. He learned this job from his parents and uncles. His work has become his source of income with which to support his wife and five-year-old child, who he dreams of giving a high quality education.
Today, he is growing pea crops and wishes to increase his yield in order to boost his profits. For this reason, he is requesting a loan to buy supplies and agricultural material which will enable him to improve his crops and sell them at a higher price. He hopes to be able to achieve his wife's dream of owning their own home.
Jesús de 38 años de edad, se dedica a la agricultura desde su infancia, oficio que aprendió gracias a sus padres y tíos.
Su labor se ha convertido en la fuente de ingresos para el sostenimiento de su esposa y su hijo de cinco años de edad, al que sueña con brindarle una educación de calidad.
En la actualidad tiene sembrados de arveja y desea poder incrementar su producción con el objeto de aumentar sus ingresos, por lo cual se encuentra en búsqueda de un crédito para comprar insumos y material agrícola que le permitirán mejorar su cultivo y poder comercializarlo a un mejor precio.
Espera poder cumplirle el sueño a su esposa de tener una vivienda propia.
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.