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Richard

Update on Richard

Richard is 24 years old and married to María del Carmen. Together they have a young son and live in the community of Monte Negro in the city of Cochabamba, although they live in one room of his parent's house, where the three of them are very uncomfortable.

His main work is making plaster. Richard is continuing the work that his father did, and he inherited all of his ovens and tools to continue his work. He plans to use this loan to purchase bags to package and sell plaster. Richard and his wife are young, but they are responsible and hardworking, since they are working very hard to carry on the business that his parents worked so hard for.

One of his dreams and goals is to build his own house, since Richard's parents also left him a plot of land.
View original language description ↓
El señor Richard es un señor de 24 años está casado con la señora María del Carmen, juntos tienen un hijo pequeño viven en la comunidad de Monte Negro de la ciudad de Cochabamba, aun viven en la casa de sus padres en una sola habitación donde los tres se encuentran muy incomodos, su principal actividad del cliente es la fabricación de yeso, el señor Richard esta continuando la actividad que desarrollaba su padre, mismo que le heredo todos sus hornos y sus herramientas para que continúe su actividad, el destino del crédito es para la compra de bolsas para el empaque y venta de yeso, el Señor Richard y su esposa son jóvenes pero muy responsable y trabajadores ya que están trabajando mucho para llevar adelante la actividad que tanto trabajo les costó a sus padres.
Entre sus sueños y metas esta construir su propia casa, ya que los padres del señor Richard también le heredo un lote de terreno.

Previous Loan Details

Richard is 22 years old and married to Maria del Carmen. They don't have any children and live in the Montenegro area, a rural area located 23km from Cochabamba in the Quillacollo Province of the Cochabamba department. Richard has his own business manufacturing construction material (plaster).... More from Richard's previous loan »

Additional Information

About CIDRE

CIDRE is a Bolivian microfinance institution with a strong social commitment to the community. It works to provide quality financial services to rural and peri-urban borrowers, focusing primarily on agricultural loans for dairy farmers and micro-enterprises. CIDRE targets segments of the population that have not traditionally had access to credit, and invests in much-needed community development projects. It is currently working with coca farmers in the Chapare region to replace coca with less controversial crops. Get more involved by joining the Friends of CIDRE lending team.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Bolivia

  • $5,500
    Average annual income
  • 197
    View loans »
    Bolivia Loans Fundraising
  • $31,031,600
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Richard to purchase bags to package plaster.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 19, 2012
Listed
Apr 26, 2012
Currency Exchange Loss:
N/A
Ended:
Dec 15, 2012
This photo was used before for a previous loan for Richard. It was first posted on Kiva on Aug, 2010. Learn More