Update on LuchoLucho is married and has four children; two of them are school age. They live in their own house in the Rio Seco area of El Alto. He only went to school up to high school.
He currently works as a shoemaker in a small shop where he makes women’s shoes.
He needs the loan to get construction material (sand, cement). He wants to be able to repair his house because the rainy season is approaching.
This is the third time he has requested a loan from IMPRO and the second time from Kiva.
El estudio solo hasta el nivel secundario y actualmente trabaja como zapatero en un pequeño taller donde elaboran calzados para dama.
El crédito lo requiere para adquirir material de construcción (arena, cemento) y así poder refaccionar su vivienda ya que se aproxima la época de lluvia.
Es la tercera vez que solicita crédito junto a IMPRO y la segunda vez con KIVA.
Previous Loan DetailsSr. Lucho is a seasoned shoemaker. He produces and repairs shoes. Lucho has contracts in which he must deliver four dozen shoes on a weekly basis. The loan he is requesting will be used for home improvements. He needs to apply cement on his patio and his house needs to be painted. Lucho is m... More from Lucho'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.
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
- 15 months (Additional Information)
- Repayment Schedule
- Oct 29, 2012
- Nov 6, 2012
- Currency Exchange Loss:
- Dec 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.