Update on YolandaYolanda continues participating in Asociación Arariwa’s micro loan unit’s “Qorichaska del Cusco” communal bank. She continues with her coffee growing business. Yolanda did very well with her previous loan and was able to obtain good benefits so she now wants another loan because it’s very helpful for her business. Yolanda needs the loan to pay day laborers that work her fields. Yolanda is grateful for the opportunity provided her through this means and pledges to make her installment payments according to the payment schedule.
Yolanda con el anterior crédito le fue muy bien y pudo obtener buenos beneficios y por ese motivo desea otro préstamo pues le ayuda mucho con el negocio.
Yolanda requiere el préstamo para pagar a los peones que trabajan en la chacra.
Yolanda 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 DetailsYolanda is 80 years old and lives in the beautiful city of Cusco, Peru. She has been a member of Arariwa's “Patrón de San Sebastián” community bank for a long time. Yolanda considers herself to be a hard-working and enterprising person. She has a farm in the province of Convención in the depar... More from Yolanda'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 25, 2011
- Oct 27, 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.