Update on GerardoGerardo is 46 and has lived with his common law partner Segundina for more than 15 years, they have five young children, they live in the house of one of their family members, they only pay for power and water, the city of Cochabamba is 52km away, Don Gerardo has a job as a driver and is a member of the Transportation Union. They recently bought a vehicle and to be able to buy it he requested a loan, they are also farmers of potato, beans and they raise cattle, Gerardo is a very humble, responsible and hardworking person, Don Gerardo is very happy that he bought this vehicle to work with and he will have savings for her children's education and to build his house, which is his biggest dream to have a house of his own.
Previous Loan DetailsMr. Gerardo López A. is 45 years old and has lived with Ms. Segundina Miranda Montecinos for over 10 years. They have 4 young children who are living in a house that has been loaned to them in which they only pay for electricity and water. They live in the trade union of Rosario 52 kilometers fro... More from Gerardo'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.
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Success!! The loan was 100% repaid