Update on RosarioRosario works making various baked goods. She lives in her own house that has fine finishing touches and a cement floor; it’s located in the city of La Paz’s Irpavi zone. Rosario makes baked goods like turnovers, cakes and others to cover her food, electricity and water costs. She needs the loan to buy ingredients like flour, sugar and butter to continue with her business and improve her income and her quality of life. Rosario’s dream is to own her own pastry shop. This is the second time with IMPRO and second with KIVA.
Rosario elabora masitas como ser empanadas, queques y otros, para cubrir sus gastos de alimentación, luz, agua; el crédito lo requiere para la compra de insumos como ser harina, azúcar, mantequilla, y así continuar con su negocio y mejorar su ingresos y su calidad de vida.
El sueño de Rosario es tener su propia pastelería.
Es la segunda vez con IMPRO y la segunda con Kiva.
Previous Loan DetailsRosario is a widow and has two young children who live with her in her own home where they occupy three rooms. Her house is located in the District of Irpavi in the city of La Paz.
Rosario has a high school education and currently receives income by producing clothes. This is the only… More from Rosario'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
- 8 months (Additional Information)
- Repayment Schedule
- Dec 11, 2012
- Dec 18, 2012
- Currency Exchange Loss:
- Jul 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.