Update on PrudenciaPrudencia is single, and she has a small child. She lives in two small rented rooms with brick walls and dirt floors. The house is in the Irpavi area of the city of La Paz.
She currently works for over ten hours making men’s and women’s clothes. It is the only income she has for the food expenses and payments for her family’s basic services. She used to make blankets, but she has now changed her business, and it is going better for her.
She needs the loan to buy fabric to make clothes. She does not earn enough to increase her capital.
Prudencia's dream is to improve her income and to get an “anticrético” [A tenant pays a fixed sum upon renting a house instead of montly rent. The sum is considered a loan to the property owner and is returned in full when the rental period is over.] She wants to save the rent payments and improve her quality of life.
This is the fourth time she has requested a loan from IMPRO and Kiva.
Actualmente trabaja por más de diez horas confeccionando trajes para varones y mujeres ya que es el único ingreso que tiene para los gastos de alimentación y pago de servicios básicos de su familia. Anteriormente elaboraba mantas, pero ahora ha cambiado de rubro y le va mejor.
El crédito lo requiere para la compra de telas para la confección de trajes ya que con lo que gana no le alcanza para aumentar su capital.
El sueño de Prudencia es mejorar sus ingresos y adquirir un anticrético ya que desea ahorrar en el pago de alquileres y mejorar su calidad de vida.
Es la cuarta vez que solicita crédito junto a IMPRO y la cuarta con KIVA.
Previous Loan DetailsPrudencia is an artisan; she weaves blankets. She needs the loan as working capital to buy vicuña wool to make the blankets to sell. Prudencia is single and has a son. She lives in a rented house located in the city of La Paz’s Alto Irpavi zone. It’s the third time she’s worked with Kiva and ... More from Prudencia's previous loan »
About IMPROIMPRO 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.
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
- 8 months (Additional Information)
- Repayment Schedule
- Jul 5, 2012
- Jul 24, 2012
- Currency Exchange Loss:
- Feb 15, 2013
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.