67-year-old Luis Angel is a farmer who does agricultural work. He is a lover of the countryside, and of the flora and fauna of his region. Luis mainly produces milk to generate income for his family. Currently he is requesting a loan that he will invest in the purchase of a cow in order to increase his milk production and income.
Luis's dream is to get ahead and guarantee his family the best living conditions.
Luis ángel de 67 años de edad, es un campesino dedicado a las labores agropecuarias. Amante al campo, flora y fauna de su región. Se dedica principalmente a la producción de leche como actividad generadora de ingresos para su núcleo familiar, En la actualidad se encuentra solicitando un crédito que invertirá en la compra de una vaca con el fin de aumentar su producción lechera y aumentar sus ingresos.
Su mayor sueño es salir adelante y garantizarle 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.