For many years he has been self-employed. He has a butcher shop located on the main street of the town where he lives. The business consists selling red meat by the pound from cattle purchased from local ranchers. In this way Denis generates greater profitability and better income for his family.
The loan he is requesting will be invested in the purchase of a big freezer and local cattle with the aim of having somewhere to store his product and to increase production to be able to strengthen his sales and generate more income.
Denis has a goal of giving continuity to his business so that it remains profitable and improving the living conditions for his family.
Durante muchos años se ha dedicado a trabajar como comerciante independiente, tiene una carnicería ubicada en una calle principal del municipio donde reside, el negocio consiste en vender las reses por libra que compra de ganaderos locales y él mismo las sacrifica y vende por kilaje, así genera mayor rentabilidad y mejores ingresos para la familia.
El crédito que solicita será invertido en la compra de un congelador y más reses, con el fin de tener donde almacenar su producto y aumentar la producción, para poder fortalecer sus ventas y generar mejores ingresos.
Denis tiene como propósito, darle continuidad a su negocio, para que siga siendo rentable y le permita mejorar las condiciones de vida para 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.
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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This loan has been fully funded!