Teresa earns a living raising and selling chicken in the municipality of Honda.
This is very common work in the region, with many inhabitants earning a living this way.
Teresa is very knowledgeable about this work and believes that she needs a little boost in order to increase sales and expand her business. She is therefore applying for financial help in order to buy chickens, feed and mesh to set up a coop.
With this loan, Teresa will be able to continue with her work, which is her only source of income for the family.
Teresa is very enthusiastic about this loan.
Se gana la vida con la cría y venta de pollos de engorde en el municipio de Honda.
Esta es una actividad muy común en esta región y gran parte de sus habitantes la practican.
Ella posee gran conocimiento en esta materia y considera que necesita un pequeño impulso para incrementar sus ventas y aumentar su negocio, es por esta razón que solicita un auxilio económico para invertirlo en la compra de pollos, concentrados, mallas para la adecuación de su galpón.
Con este préstamo podrá continuar con su actividad que es la única fuente de ingresos de su familia.
Se siente muy entusiasmada con esta ayuda.
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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