Claudia is a 41-year-old rural woman who carries out various types of agricultural work. She fattens pigs to sell; she sells eggs; and she also owns land where she grows corn. She has been carrying out these different jobs every day without rest for the last 20 years in order to get enough money to take home to her family. She is currently requesting a loan to buy two piglets to raise and fatten and to buy agricultural supplies in bulk (fertilizers, manure, pesticides, etc.) so that she can increase production and increase her income, especially because people buy more pork than usual during the Christmas season meaning that she has the opportunity to increase her sales significantly. The loan will also make it possible for her to reap a better harvest of corn because she will be able to take care of the land better with the agricultural supplies. Claudia wants to carry on working, and her dream is to grow and strengthen her business so that it is more profitable and so that she can improve her family's quality of life.
Claudia es una mujer campesina de 41 años de edad que, se dedica a realizar todas las tareas del campo, pues posee cerdos para engorde y comercialización, vende huevos y adicionalmente es propietaria de un cultivo de maíz; trabaja en estas actividades desde hace 20 años, día a día sin descanso, con el ánimo de generar recursos que le permitan aportar a la economía de su hogar. Actualmente solicita el apoyo del crédito para comprar 2 lechones para cría y engorde y abonos agrícolas al por mayor (fertilizantes, abonos, pesticidas, entre otros), con lo que podrá aumentar la producción y mejorar los ingresos que percibe, ya que con la llegada de la temporada de navidad se incrementa el consumo de carne de cerdo, lo que para ella significa aumentar su nivel de ventas, además tendrá la posibilidad de sacar una cosecha de maíz mucho más productiva gracias a los cuidados que le dará con los insumos agrícolas. Claudia manifiesta su interés para darle continuidad a su labor, pues su sueño es poder ampliar y fortalecer aún más su negocio para que éste le genere mayor rentabilidad y así mejorar la calidad de vida de su familia.
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.