Update on ElizabethElizabeth’s a barber and provides services at customers’ homes. She and her son live in the city of La Paz’s Escobar Uría zone in the ‘anticrético’ modality. [transaction hereby 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 repaid, the property owner could lose the property to you].
She needs the loan to increase her capital purchasing supplies at wholesale (hair dye, developers and creams) to have the benefit of lower prices leading to higher profits.
Elizabeth’s dream is to be able to buy a house of her own and to provide her family with better living conditions. This is the second time her loan is channeled through Kiva.
El crédito lo necesita para incrementar de su capital, adquiriendo insumos por mayor (como ser tintes,developers,cremas para el cabello)para obtener beneficios en la reducción de costos y de esta manera poder aumentar sus ingresos.
El sueño de Elizabeth es poder comprar su casa propia brindar a su familia mejores condiciones de vida.
Esta es la segunda vez que su crédito se canaliza a través de Kiva.
Previous Loan DetailsSra. Elizabeth has a son and lives in a rental property that contains one room with fine finishes and a wooden plank floor. Her home also has a kitchen, a bathroom, a dining room, and a living room. The house is located in the District of Escobar Uria in the city of La Paz.
Elizabeth works… More from Elizabeth'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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- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- Sep 12, 2013
- Oct 9, 2013
- Currency Exchange Loss:
- Nov 8, 2013
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.