Ruth used to work as an employee of an agricultural store. This is where she learned everything about caring for animals. Then the opportunity arose for her to work independently and start up her own facility to raise and fatten chickens, which she sells to the other agricultural shops in the municipality where she lives and in the surrounding areas. This way she can generate sufficient resources to cover the household expenses and provide her children with an education.
Ruth is requesting a loan to invest in the purchase of 12,000 one-day old chicks, animal feed, and medications to feed and raise them appropriately so that she can later sell them. This will enable her to increase her capacity for staggered production, increasing her sales and income.
Ruth states that her main desire is to have a greater quantity of birds and increase her staggered production so that she can meet the demand in the other surrounding towns, increasing her income so that she can have financial stability and give her children a better quality of life.
Trabajaba como empleada en una tienda agropecuaria, en la que aprendió todo lo relacionado con el cuidado de animales, allí surgió la oportunidad de independizarse y montar su propio galpón para criar y engordar pollos, los cuales vende a otras tiendas agrícolas en el municipio donde reside y en pueblos aledaños; así genera los recursos suficientes para solventar los gastos familiares y brindar educación a sus hijos.
El crédito que solicita será invertido en la compra de 12.000 aves con un día de nacidos, concentrado y medicamentos para alimentarlos y criarlos de manera adecuada, para su posterior venta, esto le permitirá aumentar su capacidad de producción escalonada y mejorar las ventas e ingresos.
Ruth manifiesta que su mayor anhelo es tener más cantidad de aves y seguir produciendo de manera escalonada para cubrir la demanda en otros municipios aledaños, aumentando los ingresos para así garantizar una estabilidad económica y dar a sus hijos una mejor calidad de vida.
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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