This borrower is a tenacious man who is dedicated to his family and his work. This is why he was motivated to request his second loan. His goal is to invest in more pigs to raise and fatten, because in the second half of the year sales tend to rise, and this will allow him to increase his income so that he can continue to support his household.
Epifanio dreams of being able to buy many more pigs so that he could have sufficient quantity to meet his customer's needs. In this way, he could generate more income and be able to offer his family a better quality of life and his children a good education.
El prestatario es un hombre luchador, entregado a su familia y a su trabajo, por eso se motivó a solicitar el segundo ciclo de crédito, con el fin de invertirlo en la compra de más lechones (crías de cerdos), para criarlos y engordarlos, ya que en el segundo semestre del año las ventas de éstos se incrementan, permitiéndole aumentar sus ingresos para continuar llevando el sustento a su hogar.
Epifanio sueña con poder comprar muchos más lechones, para poder tener disponibilidad suficiente cuando sus clientes lo requieran y de esta manera recibir más ingresos y poder ofrecer mejor calidad de vida a su familia y una buena educación a sus hijos.
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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