Update on Pedro LuisPedro Luis is 23 years old. He lives in his parents' house in the southern area of the town of Cochabamba. He uses his own vehicle to work as a radio taxi for a local company. He studies in an institute for a career as an auto mechanic technician, and he pays for his own studies. For that purpose he works everyday from 7 a.m. to 7 p.m., and then he goes to his classes. Pedro had to quit transportation last year, because his mother became ill. Luis and his father worked in shifts during the day and night, and he says that, thank God, his mother got better and now she's working as usual. He requests the loan in order to fix the engine in his vehicle so that he doesn't have any problems finishing his taxi rides. In the previous cycle he got a loan for purchasing gas for his vehicle. Luis is a responsible person and has always repaid without problems.
Previous Loan DetailsMr. Luís is 22 years old and studied only until high school. He lives in the Villa Méjico Area in the city of Cochabamba. He works as a taxi driver and lives with his parents in his grandmothers’ home. He left his studies because his mother had some health problems (she had a hysterectomy and t... More from Pedro Luis'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
- 26 months (Additional Information)
- Repayment Schedule
- Jun 14, 2012
- Jul 9, 2012
- Currency Exchange Loss:
- Aug 26, 2014
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.