Eugenio is a farmer, who has worked in this job for more than 15 years, rendering healthy products for people's consumption. At his 34 years of age he and his wife are ready to start a family, to have children to make his home happier. He knows that bringing children to this world means that one has to be able to support them. For this reason he wants to improve his business, increase his productivity and assure a future based on his work at the fields. Because of this he is requesting a loan in order to buy agricultural inputs that will allow him to increase and have more productivity. He will invest the loan in fertilizers, organic fertilizers and seeds with which to start a new era in his crops: a more productive and beneficial one for his family.
El señor Eugenio es un agricultor que ha ejercido su profesión por más de 15 años brindando productos saludables y sanos para el consumo de las personas. A sus 34 años edad se ha trazado con su esposa poder crear una familia tener unos hijos para alegrar su hogar y sabe que para traer hijos al mundo hay que tener con que mantenerlos por esa razón quiere mejorar su negocio, aumentar su productividad y asegurar un futuro en base a trabajo en el campo por esta razón solicita un crédito para la compra de insumos agrícolas que le permita aumentar y tener mayor productividad, el crédito lo invertirá en fertilizantes, abonos y semillas con los que quiere comenzar una nueva era en sus cultivos una más productiva y beneficiosa para su familia
This 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.