Update on TeresaTeresa has been a member of FINCA Peru for 13 years. She sells cochineal (a natural dye) and “tara” (a natural tannin used in making leather), but she also manages a grocery store. Teresa has always sold cochineal and “tara”, but she recalls using her savings to establish her store and to build her house. Thanks to the training she has received from her Communal Bank, Teresa has learned how to have a prosperous business. The loans have been easy to manage and the training has helped her to make her business more efficient.
Now this loan she is requesting will be used to buy rice, sugar, milk, and noodles so that she can improve her business.
Previous Loan DetailsTeresa is a member of the Amaquella Communal Bank. She is 45 years old and the mother of three children. Her oldest child is 25 years old and the youngest one is 11 years old. Teresa sells groceries (sugar, rice, milk, oil, eggs, fruit, and sodas). She has managed this business for five years… More from Teresa's previous loan »
About FINCA PeruThis loan is administered by FINCA Peru, one of Kiva’s Field Partners in Peru. FINCA Peru is dedicated to empowering socially and economically disadvantaged women in Peru, contributing to the development of their families, and building sustainable communities.
In 1990, FINCA Peru began by lending to a small group of women widowed by the Shining Path terrorist movement in Ayacucho. Beyond loans and financial services, FINCA offers business development training, personal and family development training, gender empowerment sessions, life insurance products, and financial and social literacy sessions for the children of borrowers. Visit FINCA Peru’s Kiva Field Partner page to learn more.
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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