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Luis Carlos
Luis learned agriculture from his parents, who always did farm work, and now he has the considerable experience he needs to produce high quality products. Luis is married and has two children, ages 12 and 13. Growing vegetables is his source of income for providing his family with a decent standard of living.

Since he has financial problems, Luis is seeking a loan to buy supplies like seeds and fertilizer to plant his crops and increase his sales. He dreams of producing a great harvest and, therefore, continuing to generate income. He also wants to be able to send his children to the university in the future.
View original language description ↓
Luis aprendió la actividad de la agricultura por parte de sus padres quienes siempre se dedicaron a esta actividad, y gracias a esto ahora cuenta con una gran experiencia que le permite tener productos de muy buena calidad. Ahora que Luis se encuentra casado y tiene 2 hijos de 12 y 13 años de edad, tiene esta actividad del cultivo de verduras como su fuente de ingresos y la cual le permita ofrecerle a su familia una calidad de vida digna. Debido a que está padeciendo fuertes problemas económicos, Luis busca el apoyo en un préstamo para comprar insumos como semillas y abonos para sacar adelante sus cultivos y aumentar sus ventas.

Su sueño es tener un gran cultivo y seguir generando sus ingresos por este medio. Además de poder ofrecerles a sus 2 hijos en el futuro el acceso a una educación universitaria.

Additional Information

Important Information

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.

About Colombia

  • $6,070
    Average annual income
  • 563
    View loans »
    Colombia Loans Fundraising
  • $14,650,775
    Funds lent in using Kiva
  • 1,796.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,400 helped Luis Carlos to buy supplies like seeds and fertilizer to plant his crops and increase his sales.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 22, 2012
Listed
Oct 3, 2012
Currency Exchange Loss:
Covered
Ended:
Nov 18, 2013