Miriam De Jesús
These loans offer Miriam a means of support that helps her move forward in life. She is on her sixth loan cycle and will use the loan to buy a breeding sow and feed for the animals. This will allow her to increase the number of animals she has and feed them so that she can sell the piglets at a higher price. Increasing her income will enable her to improve her family's living conditions, and her main goal is to work hard so that her children can have good careers and prosperous, successful futures.
Miriam ha encontrado en el crédito, una alternativa de apoyo para salir adelante, es por ello que solicita su sexto ciclo con el que comprará una cerda de cría y concentrado para alimentar los animales, esto le permitirá aumentar su producción y alimentar a los animales para luego vender los lechones a un mejor precio, generando las utilidades necesarias para mejorar las condiciones de vida familiar, pues su principal propósito es luchar para que sus hijos sean profesionales y se forjen un futuro próspero y exitoso.
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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