Update on Sandra PatriciaForty-two year old Sandra is from the countryside. Since she was a child she has lived in the small town of Santa Bárbara. She has made a living working in the fields and this has allowed her to earn enough to support her family, whom she is responsible for.
Every day she gets up very early and starts her work, collecting the coffee. Later she begins to do her household chores. Her work is the only income that goes to paying the household bills and so Sandra works very hard with the aim of improving her living conditions.
She is now applying for a loan to buy fertiliser, to adapt the land and pay for labourers, in order to improve her crop and increase production. This will then result in a higher income and more stability for the family.
Diariamente se levanta muy temprano e inicia su faena con la recolecta del café, y posteriormente comienza a realizar las labores domésticas del hogar.
Su actividad es la única fuente de ingresos para solventar los gastos en su hogar. Por lo cual trabaja arduamente a fin de mejorar las condiciones de vida.
Hoy se encuentra solicitando un crédito para la compra de abonos, adecuación de terreno y mano de obra con el fin de mejorar el cultivo y obtener una mayor producción que se reflejará en mayores ingresos y estabilidad familiar.
Previous Loan DetailsAlthough in our culture farming work is more typically a male domain, Sandra Patricia V. is an entrepreneurial farmer who has been working in this business in order to take care of her mother and live a decent life as she herself says. She has sown coffee on her small plot of land and this has b... More from Sandra Patricia's previous loan »
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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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Success!! The loan was 100% repaid