Update on Lucio JuanLucio continues to run the same business selling cocoa by wholesale. He reports that the previous loan went well for him, since he used it to make his final payment. He currently requests a loan in order to purchase quintales (100-kilogram units) of cocoa, because this product is in high demand during this year-end season. This is due to the many "chocolatadas" (a traditional event where chocolate milk and Christmas cake are served) that are held for children of various institutions. That's why he wishes to stock up with this product and thefore increase his profits during this season.
Previous Loan DetailsSeñor Lucio is an old client who has a very good history of payment in his previous loans. He lives in the Brasil zone in the north of the El Alto city. He sells cocoa (powdered chocolate) in various Bolivian cities such as Sucre, Potosí, and Cochabamba. He sells on the street, by the pound. His ... More from Lucio Juan'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