Update on Maria CristinaMaria Cristina continues to participate in the Communal Bank “Qorichaska del Cusco”, which is part of the microfinance organization Asociación Arariwa in the city of Cusco. She still sells bath sponges and other accessories, but she also continues her business of selling food.
Her previous loan went very well and she was able to obtain good benefits. For this reason, she wants another loan because she believes it will help a lot. Maria Cristina plans to buy more supplies such as sacks of rice, sacks of sugar, and other products.
She is grateful for the opportunity that has been provided and promises to complete her payments on time.
Maria Cristina con el anterior crédito le fue muy bien y pudo obtener buenos beneficios y por ese motivo desea otro préstamo pues le ayuda mucho.
Maria Cristina requiere el préstamo para comprar más insumos como por ejemplo sacos de arroz, sacos de azúcar y otras cosas más.
Maria Cristina 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 DetailsMaria Cristina is 43 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. Maria Cristina is a single mother since her partner abandoned her and her child. She is a hard-working and enterprising wo... More from Maria Cristina'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 30, 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.