Julio Cesar, 68, is a widower who has provided for his three children with effort and sacrifice. He has worked in agriculture from a young age, mainly cultivating flowers on a plot of his property in Santa Elena, Colombia. He sells his products in the city of Medellín. He works daily from 5 a.m. until 5 p.m.
With the goal of expanding his cultivation, Julio is applying for a loan which he will invest in the purchase of supplies such as seeds and fertilizer. This will allow him to improve his earnings and his quality of life.
His greatest wish is to have a decent old age without financial hardship.
Julio Cesar de 68 años de edad, es un hombre viudo y con tres hijos los cuales sacó adelante con esfuerzo y sacrificio. Desde joven se ha dedicado a la producción agrícola, principalmente al cultivo de flores en un lote de su propiedad en la vereda Sata Elena, Colombia. Su producto lo comercializa en la ciudad de Medellín. Labora diariamente de cinco de la mañana a cinco de la tarde.
Con el fin de ampliar su cultivo, Julio se encuentra solicitando un crédito que invertirá en la compra de insumos como semillas y abonos, lo que le permitirá mejorar sus ingresos y mejorar su calidad de vida.
Su mayor deseo es tener una vejez digna y sin carencias económicas.
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.