Gladys is 42 years old and the single mother of one daughter. She raises flowers and works as a supervisor and also raises livestock; she has various heads of livestock with which she complements her income to support the household. Her brother helps her care for the livestock, which is located on a farm where her parents live. Gladys is a hardworking, active, woman who pushes herself and is always looking for opportunities that allow her to get ahead with her daughter. She was motivated to request a loan in order to invest in livestock (steers) so she can continue with her business and be able to increase her resources. She wants to be able to provide her daughter with an excellent university education and watch her develop a professional career. She will also have the chance to save up to buy a home of her own in the interim and enjoy a better quality of life and wellbeing with her daughter.
Gladys, a sus 42 años de edad es madre soltera de una hija. Se dedica a laborar en un cultivo de flores desempeñando el cargo de supervisora y, alterna su trabajo con la actividad de la ganadería, pues posee varias cabezas de ganado de levante, con lo cual complementa sus ingresos para llevar el sustento diario a su hogar, ella cuenta con el apoyo de un hermano para cuidar el ganado, que se encuentra ubicado en una finca donde residen sus padres. Gladys es una mujer luchadora, activa, pujante y siempre va en busca de oportunidades que le permitan salir adelante al lado de su hija, por eso se anima a solicitar el crédito con el fin de invertirlo en la compra de ganado (ternera de levante) para continuar con su negocio y poder aumentar sus recursos, pues desea poder brindarle una excelente educación universitaria a su hija y verla realizada profesionalmente, además podrá tener la posibilidad de ahorrar para comprar su casa propia a mediano plazo y disfrutar de un mejor bienestar y calidad de vida en compañía de su hija.
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.