Iván is 37 years old. He lives on a farm in the town of Betulia, Antioquia with his wife and three children, who are minors. His hard work and dedication have enabled him to buy a piece land from his father-in-law where he has sown coffee. Thanks to this activity he can support his family, feed his children and provide them with an education.
His greatest dream is to have his own farm and to increase the number of crops he sows. However, he is conscious that this dream is one he will build on day by day with sacrifice and dedication.
At present he is requesting a loan which he will use to invest in the purchase of fertilisers, pesticides and to pay for the labour provided by his workers. With this he will be able to obtain a better quality crop and give his family a better quality of life.
Iván tiene 37 años de edad, reside en una finca del municipio de Betulia Antioquia, con su esposa y tres hijos menores de edad. Con esfuerzo y dedicación, logró comprarle a su suegro una parcela, en donde tiene sembrados de café. Gracias al desarrollo de su actividad sostiene a su familia y les brinda alimento y educación a sus hijos.
Su mayor sueño es tener su propia finca y aumentar sus siembras, pero es consiente que este sueño se irá construyendo día a día con sacrificio y dedicación. En la actualidad se encuentra solicitando un crédito que invertirá en la compra de abonos, venenos para la plaga y pago de mano de obra de sus trabajadores, lo que le permitirá sacar una cosecha de mejor calidad y brindarle a su familia mejores condiciones de vida.
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.