Update on NormaNorma continues to participate in the Communal Bank “San Isidro de Compone”, which is part of the microfinance organization Asociación Arariwa, in the city of Cusco. She continues with her livestock business. Norma did very well with her previous loan and was able to obtain good benefits. For this reason, she wants another loan to help with her business.
Norma is taking this opportunity to request a loan to buy dairy cows. She is grateful for the opportunity that has been provided and promises to complete her payments on time.
En esta oportunidad Norma requiere el préstamo para comprar vacas lecheras.
Norma se encuentra agradecida por la oportunidad brindada mediante este medio y así mismo se compromete a cumplir con el pago correspondiente al cronograma.
Previous Loan DetailsNorma is 27 years old, lives with her partner and has two children. Currently she works in the Compone community in the district and province of Anta, in the department of Cusco. The Compone community is located 45 minutes from the city of Cusco. The majority of its inhabitants farm crops and l... More from Norma's previous loan »
Important InformationAbout 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.
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Success!! The loan was 100% repaid
- Repayment Term
- 6 months (Additional Information)
- Repayment Schedule
- Oct 18, 2011
- Oct 25, 2011
- Currency Exchange Loss:
- Mar 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.