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Gilberto De Jesús
Gilberto is a country dweller who is 40 years old, married, and the father of four children. He has been able to get ahead because of effort, dedication, and sacrifice. Gilberto learned how to work on a farm thanks to the lessons provided by his parents. He did not have the financial resources to begin growing his own crops, so he has been managing a grocery store owned by his brother. With the aim of improving his income so that he can pay the expenses of his large family, Gilberto decided that he would also start a business of raising cattle. For this reason, he is requesting a loan so that he can buy several heads of cattle from a rancher who lives near his house. He will also use part of the money to pay off an outstanding debt. As a result, Gilberto will be able to start this new venture and hire his oldest son, who will be charged with looking after the animals. He intends to generate enough income to pay for the education and sustenance for his children.

Gilberto says his greatest wish is to grow this business and make it profitable. This would provide financial stability and enable him to provide better living conditions for his family. He also wants his children to have a quality education so that they can forge a prosperous future for themselves.
View original language description ↓
Gilberto es un campesino de 40 años de edad, casado y padre de 4 hijos a los que ha sacado adelante con esfuerzo, dedicación y sacrificio. Aprendió las labores del campo, gracias a las enseñanzas de sus padres, sin embargo no ha tenido los recursos económicos para comenzar sus cultivos, por eso se dedica a administrar una tienda de abarrotes que es propiedad de un hermano, sin embargo, con el ánimo de mejorar los ingresos para solventar los gastos de su numerosa familia, desea incursionar en el negocio de la cría de ganado de levante. Por esta razón solicita el apoyo del crédito con el que comprará varias cabezas de ganado que ubicará en un potrero cercano a su casa y cancelará el saldo del crédito que tiene vigente; así podrá comenzar su nuevo proyecto productivo y emplear a su hijo mayor, quien se encargará del cuidado de los animales; con esto pretende generar los recursos suficientes para brindar educación y sustento a sus hijos.
Gilberto manifiesta que su mayor anhelo es hacer de su negocio una actividad rentable y que le permita garantizar una estabilidad económica para brindar mejores condiciones de vida a su familia y velar para que sus hijos tengan una educación de calidad, que les permita forjarse un futuro próspero.

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.

Tags

About Colombia

  • $6,070
    Average annual income
  • 275
    View loans »
    Colombia Loans Fundraising
  • $13,610,900
    Funds lent in using Kiva
  • 2,047.5
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,450 helped Gilberto De Jesús to buy several heads of cattle and to pay off an outstanding debt.
32% repaid
Repayment Term
32 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 4, 2014
Listed
Mar 12, 2014
Currency Exchange Loss:
Possible