Carlos Tulio G., a farmer by birth, has worked the land from his childhood. He currently lends his services to his neighbours in order to work every day. This farmer has a Quito orange crop which allows him to make better earnings. He needs a loan to purchase manure and fertilizers for his crop in order to have a healthy and productive harvest. His family consists of his wife and five children. Their quality of life improves and they benefit from Carlos' crops and his work as a farmer.
Carlos Tulio G. agricultor de nacimiento trabaja la tierra desde que era muy niño, actualmente le prestas sus servicios a sus vecinos para así poder tener diariamente su jornal de trabajo.
Este agricultor tiene además un cultivo de lulo que le permite tener mayores ingresos, por esto el requiere de un crédito para comprar abonos y fertilizantes para su cultivo y así podrá tener una cosecha sana y productiva.
Su familia conformada por su esposa y 5 hijos se benefician y mejora su calidad de vida gracia a los cultivo de Carlos Tulio y a su trabajo como agricultor.
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.