Update on AbelardoAbelardo lives in his parent's home that is made of brick and the floor is cement. It is located in the zone of Llojeta in the city of La Paz. He works as a bricklayer by profession. Abelardo needs a loan in order to purchase construction material and to improve his quality of life. He will purchase stucco, cement, bricks and other materials in order to repair a pair of bedrooms and to make his children more comfortable.
His dream is to be able to finish construction on his home. This is the third loan that he will apply for via Kiva.
El sueño de Abelardo es poder terminar la construccion de la vivienda donde actualmente habita. esta es la tercera vez que su crédito será canalizado a través de Kiva.
Previous Loan DetailsAbelardo is a bricklayer. The loan that he needs is to buy raw material (bricks, cement, stone, sand, wood, and corrugated iron) to build a room in his house. Abelardo is married and has two children. He lives in his parents’ house in the Alto Llojeta zone of the city of La Paz. This is the… More from Abelardo'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.
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