She buys the pigs, takes care of them and fattens them to later sell them at a better price. She either sells them by the weight they have increased by, or if it is necessary, she sacrifices them and sells them by the kg. In this way, she gets enough income to support her household expenses.
Gloria is a strong woman, active, and dedicated to her family and her work. She wakes up very early in the morning each day to start her work, and continues to look for options to help her get ahead. Her dream is to have a staggered production that guarantees a stable monthly income and helps achieve a better quality of life for her family.
She is aware that she should continue to work diligently to achieve her goals, but this motivates her to apply for the loan. This loan helps to purchase more pigs for fattening, which will increase production and the profit margin she makes on each sale. This will help overcome their difficult economic situation because her husband was left without employment. This way they can have better living conditions in the near future.
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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