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Michael is a young entrepreneur. He is married, grows vegetables and has experience in managing this business.
He is applying for a loan to maintain 1.25 manzanas [8,750 sq m] of potatoes and 1.5 manazanas [10,500 sq m] of carrots.
The loan will be invested in buying agricultural inputs and fertilisers as well as labour costs for the care and development of the crops.
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Translated from Spanish by Kiva volunteer Jan Ryan. View original language description.
Michael es un joven emprendedor, está casado, se dedica a la siembra de hortalizas, cuenta con experiencia en el manejo de este negocio. El solicita financiamiento para dar mantenimiento a 1.25 manzana de papas y 1.5 manzanas de zanahoria. Cuenta con terrenos aptos para este tipo de siembras, el préstamo lo invertirá en la compra de insumos y fertilizantes así como pagos de mano de obra necesarios durante el cuido y desarrolo de las plantaciones.
Kiva loans are facilitated through 2 models, partner and direct, that enable us to reach the greatest number of people around the world.
For partner loans, borrowers apply to a local Lending Partner, which manages the loan on the ground. Lending Partners are responsible for screening borrowers, disbursing loans, posting borrowers to the Kiva website for funding, collecting repayments and otherwise administering Kiva loans on the ground to borrowers.
For direct loans, borrowers apply through the Kiva website and may or may not be endorsed by a Trustee. Unlike Lending Partners, Trustees don't handle any financial transactions or have any duty to repay loans on behalf of their borrowers. Instead, Trustees take the role of providing support and business advice to their borrowers throughout the term of the loan.
A Lending Partner's average loan size is expressed as a percentage of the country's gross national annual income per capita. Loans that are smaller (that is, as a lower percentage of gross national income per capita) are generally made to more economically disadvantaged populations. However, these same loans are generally more costly for the Lending Partner to originate, disburse and collect.
Kiva loans are facilitated through 2 models, partner and direct, that enable us to reach the greatest number of people around the world.
For partner loans, borrowers apply to a local Lending Partner, which manages the loan on the ground. Lending Partners are responsible for screening borrowers, disbursing loans, posting borrowers to the Kiva website for funding, collecting repayments and otherwise administering Kiva loans on the ground to borrowers.
For direct loans, borrowers apply through the Kiva website and may or may not be endorsed by a Trustee. Unlike Lending Partners, Trustees don't handle any financial transactions or have any duty to repay loans on behalf of their borrowers. Instead, Trustees take the role of providing support and business advice to their borrowers throughout the term of the loan.
A Lending Partner's average loan size is expressed as a percentage of the country's gross national annual income per capita. Loans that are smaller (that is, as a lower percentage of gross national income per capita) are generally made to more economically disadvantaged populations. However, these same loans are generally more costly for the Lending Partner to originate, disburse and collect.
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