Flor is 42 years old, married, and mother to 4 children. She has lived in the country her entire life, where she learned all the agriculture and livestock jobs and thanks to this upbringing she has experience managing cattle. today she makes clothing, as she only has one machine with which she obtains income to support her family. She is a enterprising woman, active and dedicated to her husband and children; they are the reason she fights every day to get ahead and that motivated her to seek a loan with the goal of investing it in the purchase of a cow that will produce milk, as she would like to alternate her clothing making with the milk production in order to obtain additional income. In addition she wants to take advantage of a small pasture that the farm has where she lives, and she will sell the production she gets to her neighbors and acquaintances. With this she will be able to advance toward her main dream which is to open a large seamstress shop that will enable her to generate opportunities for employment and improve her quality of life and her family's income.
Flor, a sus 42 años de edad, es casada y madre de 4 hijos. Toda su vida la ha pasado en el campo, donde aprendió todas las labores agropecuarias y gracias a esto tiene experiencia en el manejo de ganado. Actualmente se dedica a la confección de algunas prendas, ya que sólo posee una máquina, con lo cual ha obtenido ingresos para apoyar al sostenimiento de su familia. La titular es una mujer emprendedora, activa y dedicada a su esposo y a sus hijos, razón por la cual lucha cada día para salir adelante, eso la motiva a solicitar el crédito con el fin de invertirlo en la compra de una vaca productora de leche, ya que desea alternar la confección con la producción del líquido para conseguir recursos adicionales, además quiere aprovechar un pequeño lote con pasto que tiene en la finca donde reside y, la producción que saque, la venderá a sus vecinos y familiares. Con esto podrá avanzar hacia el cumplimiento de su principal sueño que es montar un taller de confección grande, que le permita generar oportunidades de empleo y mejorar la calidad de vida y la economía de su núcleo familiar.
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.