María Ofelia, 43, has been working in agricultural activities since her childhood because her parents have lived in the countryside their entire lives. She learned how to grow fruit, animal husbandry and flower growing, an activity she’s currently employed doing in a neighboring farm where she earns a salary for said work.
Her greatest dream is to start her own business which is why she’s asking for a loan to buy manure and seeds she’ll use to grow blackberries in a small parcel of land the family owns. She hopes this activity will allow her to improve her economic situation and provide her two children who are 21 and 15 years of age the opportunity of a better future.
María Orfilia de 43 años de edad, se ha dedicado a las actividades agrícolas desde su infancia, debido a que sus padres han residido toda su vida en el campo. Aprendió a cultivar frutas, el proceso de la ganadería y el maquillaje de flores, actividad que desempeña actualmente en una finca vecina en donde la contratan por honorarios para que realice dicha labor.
Su mayor sueño es crear empresa, por lo cual se encuentra solicitando un crédito, para la compra de abonos y semillas que utilizará en el cultivo de moras que desear plantar en un pequeño lote de propiedad familiar.
Espera que esta iniciativa le permita mejorar su situación económica y ofrecerles a sus dos hijos de 21 y 15 años de edad la oportunidad de un mejor futuro.
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.