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Maria Mercedes

Update on Maria Mercedes

María, 50, is married and has three children. She makes embroidered items for statues of saints and virgins to sell. She embroiders capes, pennants and flags. She works from 9am until 6pm. She wants to expand the saints’ items embroidery business and is asking for a loan to buy materials like thread, needles and fabric. She’s happy about the loan and commits to make her installment payments.
View original language description ↓
La socia es la Sra. Maria, es casada; la socia tiene 50 años de edad; la socia tiene 3 hijos, la socia se dedica a la elaboración y venta de bordados para los santos y virgenes,ella borda capas,estandartes y banderas,la socia trabaja desde las 9:00 a.m hasta las 6:00 p.m,la socia quiere ampliar el negocio de bordados,santos y estandares. La socia solicita el préstamo para comprar materiales para hilos,agujas y telas.

La socia está feliz por el préstamo y se compromete a cumplir con los pagos de su cuota.

Previous Loan Details

Maria is a member of the "Virgen Estrella de Oropesa" community bank which is located in the town of Oropesa, in Quispicanchis province, in Cusco department. Maria is 50 years old, married, and has three children who are grown up and live independently. Maria makes pennants. People place ord... More from Maria Mercedes's previous loan »

Additional Information

Important Information

About Asociación Arariwa
Asociación Arariwa is a large non-governmental organization that started offering microcredit in 1994 to improve the quality of life, skills and equity of the population in the rural Cusco region of Peru. Arariwa serves the southern Andean provinces of Peru, and is distinguished by its efforts to reach the very poor, who often live in isolated rural areas. Arariwa fosters village banking, supports savings accounts, promotes access to education, and empowers women entrepreneurs (who make up 78% of its borrowers).

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 Peru

  • $6,715
    Average annual income
  • 128
    View loans »
    Peru Loans Fundraising
  • $56,843,475
    Funds lent in using Kiva
  • 2.7
    Peru Nuevos Soles (PEN) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Maria Mercedes to invest in buying materials for making her embroidered products to order.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 18, 2011
Listed
Oct 21, 2011
Currency Exchange Loss:
Covered
Ended:
May 15, 2012
This photo was used before for a previous loan for Maria Mercedes. It was first posted on Kiva on May, 2011. Learn More