Update on ElenaElena’s divorced and has two children who are now independent. She lives alone in a rented room in the city of La Paz’s Villa Fátima zone.
She only completed secondary school and currently earns income working more than ten hours making and selling all sorts of baked goods like turnovers, cookies, bread rolls, etc. She must cover her housing, food and basic utility costs.
She needs the loan to buy ingredients needed to make her products like flour and sugar since she wants to buy these supplies at wholesale but with the little she earns she can’t afford to.
Elena’s dream is to have a pastry shop to improve her income and acquire a house using the “anticrético” [a transaction 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 could lose the property to you] modality and also to improve her quality of life.
This is the seventh time she’s worked with IMPRO and the first with KIVA.
Ella estudio solo hasta terminar la secundaria y actualmente percibe ingresos ya que trabaja por más de diez horas elaborando y vendiendo todo tipo de masitas como ser empanadas, galletas, panes etc. Debe cubrir los gastos de alquiler, alimentación y pago de servicios básicos.
El crédito lo requiere para la compra de material para la elaboración de sus productos como la harina y el azúcar ya que desea comprar el material por cantidad y con lo poco que gana no le alcanza.
El sueño de Elena, es tener su tienda de repostería y de esta forma mejorar sus ingresos para adquirir una casa en anticrético y también mejorar su calidad de vida.
Es la séptima vez que trabaja junto a IMPRO y la primera vez con KIVA.
Previous Loan DetailsElena makes food and cakes. She needs the loan to buy ingredients like flour, candied fruit, raisins, nuts, almonds and sugar to increase capital and thus increase production to take advantage of the Christmas season and sell more cakes and panettones. Elena is married and has no children. S... More from Elena'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
- 10 months (Additional Information)
- Repayment Schedule
- Jul 13, 2012
- Jul 24, 2012
- Currency Exchange Loss:
- Apr 17, 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.