To advance the project, he is requesting a loan, which he will invest in the purchase of materials to construct the pens (wood, wire mesh, nails). He will also buy chickens and feed, so that he will be able to begin his business idea with which he expects to generate enough resources to support his mother and grandmother, and to pay for university studies that he wants to start.
José is aware that to reap the benefits of his project, he must work with care, discipline and a lot of dedication. Only in this way will he be able to reach his goal of turning his business idea into a farm that will produce chickens, that will ensure favorable mid-term economic stablity, and let him offer his family a better well being and quality of life.
More information about this loan
By supporting this loan, you're helping a borrower launch a new business!
This loan is designed for an entrepreneur who needs working capital to start a brand new business. Along with the loan, Kiva's field partner Interactuar provides counseling, training courses, and other financial resources to help new, riskier entrepreneurs set up young businesses.
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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