Right now, this great entrepreneur needs a loan to buy agricultural materials with the purpose of getting a better harvest and selling his products at a better price. He says that this investment will improve the quality of life of his family group. One of his biggest dreams is to share all of his knowledge with his children and leave them a good education as an inheritance.
Asegura que el amor por el campo se debe a que su familia se ha dedicado a la actividad por generaciones.
En la actualidad este gran emprendedor necesita un crédito para comprar insumos agrícolas con el fin de sacar una mejor cosecha y comercializar sus productos a un mejor precio. Asegura que con dicha inversión mejorará la calidad de vida de su grupo familiar.
Uno de sus mayores sueños es compartir con sus hijos todo su conocimiento y dejarles como herencia una buena educación.
More information about this loan
By funding this loan, you are promoting entrepreneurship in remote regions, including areas recovering from guerilla warfare in Colombia, and helping to reverse the rural exodus which occurred in the past decades when a the rural population fled their countryside homes for the safer cities.
This Kiva loan was created by Kiva's field partner Interactuar specifically for Kiva funding, in an effort to reach more borrowers in rural areas. Most of the Interactuar's lending operations are focused in urban parts of Medellin. But this loan product is designed to provide working capital to riskier agricultural businesses who have been traditionally excluded from the finance sector.
Important InformationThis 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.
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