Update on EdgarEdgar is married and has three children who are of school age. He lives at his parents’ house where he and his family occupy two rooms. The house is located in the District of El Tejar in the city of La Paz.
Edgar currently works as a taxi driver for more than 10 hours each day. He works until the late hours of the evening so that he can cover the cost of education, food, and basic services for his family. The loan he is requesting is for vehicle maintenance since his taxi is the only source of income that he has to support his family. With this loan, he will buy tires and pay for a natural gas conversion. This will save a little bit of money since the cost of natural gas is less than that of gasoline.
Edgar dreams of improving his income so that he can acquire an “anticrético” rental property, but his savings are insufficient at the moment. He wants his family to be more comfortable and have a better quality of life. This is the third time he has requested a loan from IMPRO and Kiva.
Actualmente trabaja como chofer por más de diez horas al día y hasta altas horas de la noche ya que debe cubrir los gastos de educación, alimentación y pago de servicios básicos de su familia.
El crédito lo requiere para el mantenimiento de su vehículo ya que es la única fuente de trabajo que tiene para mantener a su familia. Con el crédito podrá comprar llantas y realizar la transformación a gas, para ahorrar un poco, pues el costo de gas vehicular s menor que el de la gasolina.
El sueño de Edgar es mejorar su s ingresos para adquirir un anticrético, pues aún no ha podido ahorrar lo suficiente, ya que desea dar más comodidad y mejorar su calidad de vida.
Es la tercera vez que solicita crédito junto a IMPRO y la tercera con KIVA.
Previous Loan DetailsEdgar is married and has two young children with whom he lives. He lives in a house through an “anticrético” lease agreement. (In an “anticrético” arrangement, the owner leases property for a lump sum deposit in lieu of monthly rent. At the end of the lease period, the money is returned to the… More from Edgar'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
- 7 months (Additional Information)
- Repayment Schedule
- Sep 14, 2012
- Sep 22, 2012
- Currency Exchange Loss:
- Mar 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.