Luisa is 21 years old, single, and is pregnant. She currently works as a nursing assistant in a municipal clinic in the town where she lives. She also works in agriculture by selling chickens and eggs, because she has several egg-laying chickens in a small chicken house. She learned this business from her mother and has been doing it for approximately 5 years. This is how she earns enough income to cover the basic necessities of her household. She is active, dynamic, entrepreneurial, and thriving. She works hard every day to get everything she needs to provide her child with the opportunity to be born into and raised in a home with a good economic situation. This is what motivates her to request the loan, which she will invest in buying 70 egg-laying hens at $25.00 each. She will also improve and expand her chicken house. With this she hopes to be able to produce more eggs for sale and increase her income, which would improve the economic situation of her household and the quality of life for her family.
Luisa, a sus 21 años es soltera y está en estado de embarazo. Actualmente se dedica a trabajar como auxiliar de enfermería en una clínica del municipio donde reside; además alterna su empleo con la actividad agropecuaria, pues se dedica a la comercialización de pollos y huevos, ya que posee varias gallinas ponedoras en un pequeño galpón; esta actividad la aprendió de su madre y lleva aproximadamente 5 años realizándola. De esta manera obtiene los ingresos suficientes para solventar las necesidades básicas de su hogar. La cliente es una joven activa, dinámica, emprendedora y pujante, diariamente se esfuerza para conseguir todo lo necesario para brindar a su hijo la posibilidad de nacer y crecer en un hogar, con buena condición económica. Esto la motiva a solicitar el crédito, que será invertido en la compra de 70 gallinas ponedoras a $25.000 cada una y además realizará adecuaciones para ampliar el galpón, con esto espera poder producir más huevos para la venta y aumentar los ingresos, con los cuales podrá mejorar la economía en su hogar y la calidad de vida de su familia.
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.
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.