Update on RichardRichard 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.
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 DetailsRichard 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 »
About CIDRECIDRE 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.
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Success!! The loan was 100% repaid
- Repayment Term
- 21 months (Additional Information)
- Repayment Schedule
- Mar 19, 2012
- Apr 26, 2012
- Currency Exchange Loss:
- Dec 15, 2012
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.