Luis and his wife sell food at a boarding house. Luis is also a substitute radio dispatch taxi driver. These business activities cover the family’s expenses.
He will use the money from the loan to buy wholesale ingredients like rice, noodles, potatoes, and “chuño” (a Peruvian tuber), etc. for his business of selling food. That way his costs will be less, and he consequently will have the possibility of improved income.
He lives in a house under an “anticrético” arrangement in the city of El Alto. (Anticretico is a transaction not available in the U.S. whereby a property owner requests a "loan" from you in exchange for housing, which must be paid back to you at the end of your contract. If your loan is not repaid, the property owner loses the property to you).
El señor Luis con su esposa se dedican a la venta de comida en una pensión, y además Luis es chofer de reemplazo en una compañía de radio taxis; con estas actividades cubre los gastos familiares. Con el dinero del crédito comprara insumos al por mayor como ser arroz, fideo, papas, chuño, etc., para el negocio de venta de comida. De esta manera sus costos son menores y por ende tiene posibilidad de mejorar sus ingresos. Vive en casa de anticrético en la ciudad de El Alto, es casado y tiene tres hijos.
IMPRO is a small non-profit organization that has been offering micro credit to the working poor in the Bolivian cities of La Paz and El Alto since 1995. IMPRO’s goal is to fight poverty by offering loans to small business owners who cannot access credit through the regular banking system due to a lack of guarantees or collateral.
To ensure that everyone has access to credit, IMPRO maintains a low interest rate by minimizing operational costs. IMPRO’s partnership with Kiva, which began in 2007, has allowed IMPRO to expand its services while maintaining these low interest rates.