Update on NellyNelly is married and lives under an "anticrético" arrangement [when a tenant pays a fixed sum upon renting a house instead of monthly rent] in the Eloy Salmon district of the city of La Paz. She and her husband make a living selling military uniforms they make.
Nelly's requesting the loan to buy fabric, buttons, zippers, and other things to continue with her business. Nelly needs to motivate her business because unfortunately her income isn't enough for her expenses.
Nelly's dream is to make her business grow and be able to save money to have her own house.
This is the second time she has requested a loan through Kiva.
Nelly solicita el crédito para la compra de telas, botones, cierres y otros para continuar con su negocio.
Nelly necesita impulsar su negocio porque lamentablemente los ingresos que recibe no son suficientes para los gastos que tiene.
El sueño de Nelly es hacer crecer su negocio y poder ahorrar para tener una casa propia.
Esta es la segunda vez que solicita crédito a través de Kiva.
Previous Loan DetailsNelly is married and has no children. She lives in a rented house and occupies three rooms. The house is located in the District of Gran Poder in the city of La Paz. Nelly only has a high school education and currently works as a seamstress alongside her husband. They produce clothes for the… More from Nelly'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
- 14 months (Additional Information)
- Repayment Schedule
- Feb 5, 2013
- Feb 23, 2013
- Currency Exchange Loss:
- Mar 17, 2014
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.