Update on Luz MarinaThe member is still with her business buying and selling clothes for women and men; she also sells bedspreads, sheets and blankets. She buys from different factories at wholesale and then sells them in locations near her community. She buys from wholesalers in the city of Cusco and brings them to sell in various communities. On this occasion, she wants to use the loan to buy blankets, bedspreads, sheets and clothes at wholesale to continue with her business selling clothes and others. She wants to continue growing economically and in the near future set up a fixed store to sell these items. On this occasion she wants to use the loan to buy blankets, bedspreads, sheets and clothes at wholesale to continue with her business selling clothes and others.
Previous Loan DetailsLuz Marina, age 33, was born in the city of San Sebastián in the Cusco province which is part of the departmenf of Cusco. She has six children and lives in the Vilcabamba community. Vilcabamba is known for its beautiful farming landscapes and is located 35 minutes from the city of Cusco. Luz… More from Luz Marina'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