With the loan that he is requesting, he will buy agricultural supplies such as fertilizers, irrigation supplies, and other items. This will allow him to continue to product excellent quality flowers so that he will be more competitive in the market. In addition, it will help him to generate resources to carry out the paperwork and obtain the permits needed to export his products outside the country. This will also increase the profitability of his business.
With his enterprising spirit and motivation to accomplish his goals, Joan will continue to work very hard to accomplish his dream: to have his own well-organized and structured business with all of the permits needed to take his products outside the country. This will enable him to improve his quality of life and his family's well-being.
Con el crédito que solicita comprará insumos agrícolas como abonos, riegos y otros, esto le permitirá continuar produciendo una flor de excelente calidad con la cual podrá ser más competitivo en el mercado, además le ayudará para generar ingresos que le permitan tramitar los permisos necesarios para poder exportar su producto al exterior y mejorar así la rentabilidad del negocio.
Juan, con su espíritu emprendedor y su proyección hacia el cumplimiento de sus metas, lo motivan para seguir trabajando arduamente y llegar a cumplir el sueño de tener su microempresa bien organizada y estructurada, con todos los permisos necesarios para llevar su producto al exterior, lo que le permitirá mejorar la calidad de vida y el bienestar familiar.
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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