Chuquisaca, Bolivia / Agriculture
Sr. Rosendo is a 37-year old who lives in Chuquisaca Department in the municipality of Monteagudo. He lives in his own home, and his business is raising pigs. The loan being granted will be used to start a new bee-keeping business. Sr. Rosendo will produce honey, which will generate the income he needs to support his family.
Sr. Rosendo attends the trainings at the San Isidro education center. He has a wife and three children who attend primary and secondary school.
With the loan being granted, this borrower will purchase bee-keeping materials and equipment. This will give him and his family a new source of income so they can have a better standard of living, increased well-being and be able to live each day with their children in their home.
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This loan product is designed to help entrepreneurs set up new businesses in Bolivia. To make this possible, Cidre is collaborating with organizations like the Fautapo Foundation to provide training, development of business and growth models, and identify needs for working capital to these entrepreneurs. Kiva and Cidre are working together to offer larger loans with grace periods to help these entrepreneurs successfully start up new businesses.
CIDRE 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.
A loan of $4,950 helps Rosendo to purchase bee-keeping materials and equipment so he can earn a better income for his family.