Update on FranzFranz sells artisanal singani (brandy made from grapes). He lives in his own home with finished walls and cement floor. His home is located in the Obrajes area of the city of La Paz.
Franz sells artisanal singani, from which he generates income to cover his expenses for food, electricity and water. He needs the loan to increase his production. He will buy singani (distilled from grapes), bottles and corks. This way he will increase his sales and improve his income and quality of life.
Franz's dream is to make his business grow. This is his second loan with Kiva.
Franz vende singani artesanal, del cual genera sus ingresos para cubrir sus gastos de alimentación, luz, agua; el crédito lo requiere para el aumento de su producción, comprará singani (destilado de uva), botellas, corcho y así incrementar sus ventas y mejorar sus ingresos y su calidad de vida.
El sueño de Franz es tener hacer crecer su negocio.
Es la segunda vez con Kiva.
Previous Loan DetailsFranz is divorced with two school age children. They live in a two-bedroom house he have under the ‘anticrético’ modality [transaction whereby a property owner requests a "loan" from you in exchange for housing, which must be paid back to you at the end of your contract. If your loan is not repa... More from Franz'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