Update on ElenaElena is separated, and has one child. They live in a rented house, located in the Villa Fatima neighborhood of the city of La Paz.
Elena has a high school education, and she has a business making cookies and salads. She needs this loan to increase her capital. This way, she will be able to buy supplies such as: flour, eggs, yeast, and other ingredients.
Elena's dream is to have a pastry shop that becomes the most popular in the city.
This is the 10th time that she has taken a loan from IMPRO, and the 3rd time she has taken a loan funded by Kiva.
Ella estudió hasta el nivel secundario y se dedica a la elaboración de una gran variedad de masitas dulces y saladas.
El crédito lo requiere para el aumento de su capital, así adquirirá los insumos como ser: harina, huevos, levadura, y demás.
El sueño de Elena es tener una confitería que sea muy popular en la ciudad.
Es la décima vez que solicita crédito junto a IMPRO y la tercera vez con KIVA.
Previous Loan DetailsElena’s divorced and has two children who are now independent. She lives alone in a rented room in the city of La Paz’s Villa Fátima zone. She only completed secondary school and currently earns income working more than ten hours making and selling all sorts of baked goods like turnovers,… More from Elena'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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