Miguel is passionate about agriculture. He has worked his whole life with farming activities and has learned along the way about nature and how to take care of her. He has been working raising pigs since he was young, an activity that helps him support his wife and five children.
Miguel is requesting a loan to invest in pigs and concentrated feed with the intention to increase his income. His biggest dream is to build his own house and thus improve his family’s quality of life.
Miguel es un gran apasionado por el campo, toda su vida se ha dedicado a las labores agropecuarias en donde a logrado conocer y aprender acerca de la naturaleza y sus cuidados. Desde su juventud labora en la porcicultura, por lo cual se dedicó a la cría y engorde de cerdos, actividad que le permite llevar el sustento a casa para su esposa y sus 5 hijos. En la actualidad se encuentra solicitando un crédito que invertirá en la compra de cerdos y concentrado, con el fin de aumentar sus ingresos. SU mayor sueño es poder construir su propia vivienda para mejorar la calidad de vida de su 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.