Update on AntoniaAntonia started out selling tea from a small kiosk in the town of Chimoré. Little by little she began attracting customers with her tea and coffee service. Over time, she has added small bakery equipment and received training from NGO's in the preparation of pies, meat pies, cakes, etc. She is anxious to increase production to be able to meet the demand of her customers, so she wants to take advantage of the opportunity to buy more equipment and produce more volume. The KIVA loan she receives will be of great help because now Antonia will have a refrigerator to help grow and expand her business.
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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