Gonzalo has made a living through agriculture for many years. He learned at a very early age thanks to his father who also made a living in agriculture. Thanks to his vegetable crops he has managed to improve the lives of his wife and three children aged 3, 10, and 12 whom he has always wanted to give a better quality of life.
He has always grown crops of very high quality but now the winter has brought about a bit of erosion. This is why he is seeking a loan to purchase seed potatoes, fertilizer, and irrigation tools to improve his crops. His greatest dream is being able to have such large crops that he will be able to send his children to university and also improve his quality of life.
Gonzalo se dedica a la actividad de la agricultura desde hace muchos años, pues aprendió gracias a su padre quien se dedicaba a esta actividad y desde muy temprana edad le enseñó la actividad. Gracias a sus cultivos de verduras ha logrado sacar adelante su esposa y sus 3 hijos de 3, 10 y 12 años de edad a quienes siempre les ha querido brindar una buena calidad de vida. En su cultivo siempre ha sacado productos de muy buena calidad, pero ahora el invierno ha venido deteriorándolos un poco, es por esto que ahora requiere de un préstamo para comprar semillas de papa, abono y riegos para sacar adelante sus cultivos.
Su mayor sueño es poder tener un gran cultivo con el que pueda darles a sus hijos una educación universitaria y también tenga en su hogar una mejor calidad de vida.
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.