The loan he is requesting will be used to buy a horse, since the one he already has is sick and in spite of the money he has spent on veterinary costs, the horse has not improved. Buying a new horse will allow him to continue with his work, as it is the only source of income for his family.
Gustavo says his main aspiration is to have the physical and financial ability to look after his family's wellbeing and provide an education for his daughter so that she can have a successful future.
Durante 16 años de su vida, se ha dedicado a trabajar de manera independiente, prestando el servicio de transporte de productos en un vehículo de tracción animal, en el que carga materiales de construcción y cualquier otro tipo de mercancía que el cliente requiera, esto le ha generado los recursos suficientes para velar por el sustento de su familia.
El crédito que solicita será invertido en la compra de un caballo, pues el que tiene se encuentra enfermo y a pesar de los gastos veterinarios, no ha mejorado; esto le permitirá continuar con su labor, pues es la única fuente de ingresos para su familia.
Gustavo manifiesta que su mayor anhelo es tener la capacidad económica y física para velar por el bienestar de su familia y brindarle educación a su hija, para que tenga un futuro próspero.
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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