Update on LuisLuis is a widower and has three grown children. He lives in one small room in his own house located in the Alto Sopocachi area of the city of La Paz. He receives a monthly pension with which he has to buy food and pay for basic services for his family. He also helps pay for his grandchildren’s education.
The loan he is seeking is to buy construction materials such as sand and bricks to renovate his house as he wishes to provide his family with more security and comfort.
Luis’s dream is to build more houses so that his children and grandchildren have somewhere to live and improve their standard of living.
This is his third loan with IMPRO and his second with Kiva.
Actualmente percibe una renta de jubilación mensual, del cual debe solventar su alimentación y pago de servicios básicos de su familia, ya que ayuda a sus nietos pagando sus estudios.
El crédito lo requiere para la compra de materiales de construcción como arena y ladrillos para la refacción de su vivienda ya que desea brindarles mas seguridad y comodidad a su familia.
El sueño de Luis, es construir más habitaciones para poder acoger a sus hijos y nietos, y de esta forma mejorar su calidad de vida.
Es la tercera vez que solicita crédito junto a IMPRO y la segunda vez con KIVA.
Previous Loan DetailsSr. Luís is a retired military pensioner. The loan he is requesting will be used to refurbish the floor of his garage which has completely worn out over time. He lives in his own home in the District of Alto Sopacachi in the city of La Paz. Luís is a widower and has three children.
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.
About Housing Loans
Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.
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Success!! The loan was 100% repaid
- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- May 13, 2013
- May 19, 2013
- Currency Exchange Loss:
- Jun 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.