Update on FilemonFilemón, 36, lives with Simona. The family works in agriculture which is their source of income; they grow potatoes, lima beans, oca [a tuber]. They rotate their crops in a 1.5 hectare parcel of farmland he inherited from his parents and part of it of his own. They have quite a bit of experience managing crops, fertilizing them, harvesting and merchandising. They live in the community of Cotani Bajo Churú, 48 kilometers from the city of Cochabamba. Filemón needed money to buy building materials (brick, cement and roofing tiles, among others). Their house is very precarious and Filemón comments that now he will build and have a new, comfortable house with all basic services.
Previous Loan DetailsMr. Filemón H. M., 34, has lived together with Mrs. Simona Flores Villarroel for over 12 years. They have two minor, dependent children who are in primary school at the rural school in the community. His main activity is potato, oca (an Andean tuber) and lima bean farming on a 2 hectare field… More from Filemon'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.
About Housing Loans
Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.
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Success!! The loan was 100% repaid
- Repayment Term
- 21 months (Additional Information)
- Repayment Schedule
- Jul 31, 2012
- Aug 22, 2012
- Currency Exchange Loss:
- Feb 17, 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.