Update on FaustinaThis member is 40 years old and has five children aged 23, 19, 15, 12 and 6. She currently works selling handicrafts (textiles) in the main square in her village. She buys materials such as different colored yarns which have already been dyed with natural oxides and she spins them to make textiles in different designs. She needs this loan to buy different colored yarns. She will invest her loan in buying yarn. The member would like to set up a gallery in which to sell handicrafts or textiles which have been hand-made from alpaca yarn.
Previous Loan DetailsThis member belongs to the "Las Triunfadoras" communal bank. The bank is located in the district of Andahuaylillas in the Quispicanchis province in the department of Cusco. Faustina is 39 years old and married. She has 5 children. She alternates her daily activities with her business sellin... More from Faustina'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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