Arledys Del Rosarios
She is requesting a loan in order to buy supplies, such as compost, to maintain her crops. Arledys will also pay for general irrigation. In addition, the loan will provide the capital she needs to tackle the process of legalizing the ownership of her land.
With this loan, she will be able to maintain her crops and pay to have legal documents drawn up so that she can work with greater peace-of-mind and grow old on the land where she spent her youth.
Solicita un crédito para comprar insumos para sostenimiento de cultivos donde comprara abonos, y riegos en general y poder tener capital de trabajo para afrontar el tema de legalizar sus tierras.
Con la ayuda de este crédito podrá mantener sus cultivos y darle cara a la legalización de sus documentos, para trabajar más tranquila y envejecer en el terreno que con la juventud ha forjado.
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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This loan has been fully funded!