In an effort to strengthen his business, he is requesting a loan to buy a cow to raise and a male breeding cow (bull). This will allow him to increase production in the medium-term, achieving better income with his work. Jorge, 53, says that his greatest desire is to have a minimum of 12 breeding cows working a dual-purpose production, producing milk and meat and to also achieve greater profitability so he can provide a good education to his children and enjoy better quality living conditions with them.
Con el ánimo de fortalecer su negocio, solicita el crédito para comprar una vaca de cría y un macho reproductor (toro), esto le permitirá aumentar su producción en un mediano plazo, logrando generar mejores ingresos con su labor.
Jorge, con 53 años de edad, manifiesta que su mayor anhelo es tener una producción mínimo con 12 vacas reproductoras de doble propósito, es decir, que puedan producir leche y carne, pues así logrará mayor rentabilidad y podrá brindar una buena educación a sus hijos y disfrutar junto a los suyos de mejores condiciones de vida.
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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