Update on AntoniaThe client started a tea service in a smal kiosk in Chimoré. Little by little she was establishing customers with her tea and coffee service. As time passed she furnished it with small pastry equipment. She also received training from the NGOs in preparing empanadas, “saltañas” (meat filled pastries), and cakes, etc.
Due to her interest in being able to increase production, she is requesting a loan. The loan is to improve the investments that are planned in order to be able to meet her customers’ demand. The demand has grown, and now there is an opportunity to be able to get more equipment. This way she will be able to have better production and produce in greater quantity.
With the money that is granted to her she will buy an oven. The oven will make the production more effective. The will make her products taste better for her customers.
On repeated occasions the client tried to save to buy her oven. However, the investment in her products did not allow her to buy the oven. Now, with help from the loan, she will have an oven, which will make her business grow and develop more.
Previous Loan DetailsSra. Antonia O. is 56 years old and has two children who are young adults. Her son is finishing his university studies, so she provides him with assistance. Antonia’s husband abandoned the family, practically leaving them destitute. They eventually became homeless since he had sold their house... More from Antonia's previous loan »
About CIDRECIDRE is a Bolivian microfinance institution with a strong social commitment to the community. It works to provide quality financial services to rural and peri-urban borrowers, focusing primarily on agricultural loans for dairy farmers and micro-enterprises. CIDRE targets segments of the population that have not traditionally had access to credit, and invests in much-needed community development projects. It is currently working with coca farmers in the Chapare region to replace coca with less controversial crops. Get more involved by joining the Friends of CIDRE lending team.
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
- 32 months (Additional Information)
- Repayment Schedule
- Oct 11, 2011
- Oct 24, 2011
- Currency Exchange Loss:
- Dec 15, 2012
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.