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Gilberto David
Gilberto is a very hardworking person who has been able to successfully grow his own vegetable crops. He learned farming from a neighbor who taught him how to cultivate, and then gave him work for approximately one year. Some time ago, in an effort to increase his income, Gilberto decided to start growing his own crops. His main challenge is that he is separated from the mother of his two children, who depend on him financially, and this makes his household financial situation difficult. Nevertheless, with his crops, he hopes to be able to improve this situation, which is why Gilberto is now requesting this loan in order to install an irrigation system for his crops. This system will increase his crops, which will in turn allow him to sell more produce.



His dream is to be able to have the financial resources needed to provide his children, ages 1 and 5, with a good education.

View original language description ↓
Gilberto es una persona muy trabajadora que ha logrado sacar adelante su propio cultivo de verduras. La actividad de la agricultura la aprendió de un vecino suyo quién se la enseñó y le brindó empleo durante un año aproximadamente, y desde hace un tiempo buscando mejorar sus ingresos, Gilberto decidió sacar adelante su propio cultivo. La principal dificultad que tiene es que está separado de la madre de sus hijos y sus 2 hijos dependen económicamente de el, lo que hace muy difícil la situación económica del hogar. Pero con su cultivo espera poder mejorar esta situación y es por esto que Gilberto busca un préstamo para instalar un sistema de riego en su cultivo, lo que le permita aumentar su productividad y por tanto vender más.

Su sueño es poder tener los recursos económicos suficientes para brindarles educación a sus 2 hijos de 1 y 5 años de edad.

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

  • $11,100
    Average annual income
  • 487
    View loans »
    Colombia Loans Fundraising
  • $15,254,800
    Funds lent in using Kiva
  • 1,796.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $850 helped Gilberto David to install a crop irrigation system.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 23, 2012
Listed
Oct 3, 2012
Currency Exchange Loss:
Covered
Ended:
Oct 20, 2013