Update on VictorVictor lives in his own house, which is made of brick with a cement floor, in the area of Bajo Llojeta in the city of La Paz. He has a job as an employee at a vehicle repair workshop. He needs the loan to buy paint for a job he has so he can make better profits and cover his household costs.
Victor's dream is to have his own workshop, as even with the previous loan the workshop is not completely finished, and then he will have enough income to cover his costs when he is older. This will be his second loan with Kiva and third with IMPRO.
El sueño de Victor es poder instalar su propio taller, pues aún con el crédito anterior el taller todavía no está completamente instalado, y asi tener los ingresos económicos suficientes para poder cubrir sus gastos cuando ya sea mayor de edad.
Esta es la segunda vez que trabajará con kiva y la tercera con IMPRO.
Previous Loan DetailsVíctor is a mechanic and a public transportation driver. He needs the loan to set up a mechanic’s workshop in order to give his customers better service and to get more customers. Specifically, he needs carjacks, screws, two electric screwdrivers, oil for motors, brakes, and steering. Víctor i... More from Victor'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
- 26 months (Additional Information)
- Repayment Schedule
- Sep 18, 2013
- Oct 4, 2013
- Currency Exchange Loss:
- Oct 17, 2015
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.