Gilson is 30 years old. He is the father of a seven year old son and lives in a common-law relationship with his partner. He was born and raised in the country, where he learned agricultural work and he has dedicated all his life to breeding pigs for sale. But because of external issues of violence, he decided to move to the city with his family in search of better opportunities to improve their standard of living. However, unfortunately, it was not the best decision and there were no job opportunities. It was difficult for him to find employment, so he returned to his hometown with his family. There, he began his activity again and developed his business from home, which enabled him to generate income to meet his basic household needs. The borrower is requesting a second loan cycle to help with the purchase of one sow and suckling pigs (bred from pigs) to fatten and sell at the best price at the market. In this way, he will be able to improve his family income and have financial stability. This will allow Gilson to have a better established business, stay on his path, and obtain the resources needed to provide his son with an excellent education and provide his family with the opportunity to improve their living conditions.
Gilson, a sus 30 años de edad es padre de 1 hijo de 7 años y vive en unión libre con su pareja. Nació y creció en el campo, donde aprendió las labores agropecuarias y su vida productiva la ha dedicado a la cría de cerdos para la venta, pero por cuestiones externas de violencia, decidió trasladarse con su familia hacia la ciudad, en busca de mejores oportunidades para mejorar el nivel de vida, pero, lastimosamente no fue la mejor decisión y por falta de oportunidades laborales, le fue difícil emplearse, por que retornó a su pueblo natal con su familia. Allí comenzó nuevamente su actividad y la desarrolla desde su casa, con lo cual ha podido generar ingresos para satisfacer las necesidades básicas en su hogar. El titular solicita el segundo ciclo de crédito como apoyo para la compra de 1 marrana y lechones (cría de cerdos) para engordarlos y venderlos a un mejor precio en el mercado, con lo cual podrá mejorar los ingresos familiares y tener una estabilidad económica. Esto le permitirá a Gilson tener su negocio bien establecido, permanecer en su vereda y obtener los recursos necesarios para darle una excelente educación a su hijo y brindar la oportunidad a su familia de mejorar las condiciones de vida.
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.
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.