Update on Hugo EduardoHugo is 47 years old and has a daughter who is 16. He is an artisan who makes jigsaw puzzles with themes for very young children. Hugo sells them at wholesale, especially at La Tablada market where he has customers who order weekly. Also, on occasion, he travels to the cities of Oruro and Cochabamba. His trips to the interior do very well. Hugo lives alone, currently with a special rental contract [cash up front, refunded at the end], with his sister and niece.
Hugo will use the loan to buy material for making jigsaw puzzles and, in this manner, optimize his work. Now, Hugo wishes to make a larger quantity of puzzles, to fill his growing orders and, also, because the end of the year is approaching and there will be much demand for his products.
Hugo's major dream is to provide the best for his daughter, since it is for her benefit that he works.
Previous Loan DetailsHugo is an artisan who makes jigsaw puzzles for children out of laminated wood. He sells them wholesale, making his deliveries above all at the La Tablada fair, where he already has clients who order from him each week. He also travels occasionally to the cities of Oruro and Cochabamba (he is sta... More from Hugo Eduardo's previous loan »
About EmprenderEmprender has been working in Bolivia since 1999. It is dedicated to becoming a key tool in the development of its clients and the improvement of their quality of life. Operating in three of Bolivia’s major cities – La Paz, Cochabamba, and Santa Cruz – Emprender offers both urban and rural clients the opportunity to obtain financial products tailored to fit their needs and businesses. These products include housing loans, salary loans, “opportunity” (short-term) loans, and higher education loans. To better the quality of life for its clients and non-clients through non-financial services, Emprender offers free medical consultations and health classes given by trained doctors.
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
- 14 months (Additional Information)
- Repayment Schedule
- Aug 9, 2012
- Sep 15, 2012
- Currency Exchange Loss:
- Sep 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.