Iván De Jesús
With the loan he has requested he will buy seedlings, fertilizer and other agricultural inputs for the next crop which will be in about 3 months. He will sell them to the various florists in the municipality where he lives and in the local market.
Iván says that his main goal is to have very productive crops which would guarantee a stable financial situation so he can provide University education for his children and enjoy a higher standard of living with his family.
Durante 15 años se ha dedicado a realizar las labores del campo, trabajando como empleado en diferentes cultivos, actualmente labora como administrador en un cultivo y, de manera independiente, tiene su propio cultivo de hortensias, las cuales sembró desde hace 7 meses en la finca de su esposa. Con el crédito que solicita comprará plántulas, abonos y otros insumos agrícolas para preparar sus cultivos para la próxima cosecha que se dará en aproximadamente 3 meses, la cual venderá a las diferentes floristerías del municipio donde reside y en el mercado local.
Iván manifiesta que su mayor anhelo es tener un cultivo muy productivo, que le garantice una estabilidad económica para brindar educación universitaria a sus hijos y disfrutar con su familia de 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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