He has the advantage that a friend will lend him a pig pen, and for that reason he was inspired to request the loan, which will be invested in the purchase of pigs for breeding and fattening, and feed for them. In this way he will have the possibility of fattening the pigs for December which is getting closer; it is the best time to sell them at the best price, thereby increasing the profit margin for every sale.
Francisco is a thriving, active, hard-working man, and he goes to a lot of effort to move his family forward. He dreams of being able to have around 100 pigs, in order to raise them and have a staggered production that guarantees him the constant entrance of resources. In that way he will have the possibility of offering a better quality of life for his family and a good education for his son.
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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