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Edilberto Gustavo
Edilberto has spent all of his life in the countryside. He was born and grew up there, learning agricultural work, as his father was always a farmer. Currently he has corn crops, which are harvested and sold in the village market where he lives. This way, he earns income to cover the basic needs of his family.

The borrower is a vigorous, active, enterprising man and he has a great desire to get ahead; this motivates him to request a second cycle of credit, with the single purpose of investing it in the purchase of agricultural inputs (manure, fertilizer, pesticide, larvicide). This will allow him to continue caring for his crops and reap a very good-quality harvest that can be sold at a better price in the market, and thus increase his profit margin and allow him and his wife to enjoy better economic stability.
View original language description ↓
Edilberto toda su vida la ha pasado en el campo, pues nació y creció allí, aprendiendo las labores agrícolas, pues su padre siempre fue agricultor. Actualmente posee cultivos de maíz, cuya cosecha es recolectada y vendida en el mercado del pueblo donde reside; de esta manera obtiene ingresos para solventar las necesidades básicas de su familia. El prestatario es un hombre pujante, activo, emprendedor y tiene muchas ganas de progresar; eso lo motiva solicitar el segundo ciclo de crédito, con el único fin de invertirlo en la compra de insumos agrícolas (abonos, fertilizantes, pesticidas, larvicidas) para continuar con el cuidado de sus cultivos y sacar una cosecha con productos de muy buena calidad que le permita venderlos a un mejor precio en el mercado y así, aumentar el margen de ganancia por ventas; dándole la posibilidad de mejorar las condiciones de vida y avanzar hacia el cumplimiento de su principal objetivo que es adquirir su propio terreno para tener sus cultivos y poder garantizar y disfrutar con su esposa, una estabilidad económica favorable.

Additional Information

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 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
  • 470
    View loans »
    Colombia Loans Fundraising
  • $15,266,950
    Funds lent in using Kiva
  • 1,925.6
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped Edilberto Gustavo to purchase agricultural inputs (manure, fertilizer, pesticide, larvicide).
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 23, 2013
Listed
Aug 24, 2013
Currency Exchange Loss:
Covered
Ended:
Apr 17, 2014