Update on VirginiaVirginia is a member of the Atinchik Communal Bank. She is a single mother with one daughter and has been a member of FINCA Perú for 3 years. She sells clothing and thanks to FINCA she has improved her business. Now she sells wholesale and was able to move her daughter ahead. She is proud because her daughter is attending the university.
Virginia also expanded her inventory of goods and takes them to sell at street markets, where she distributes them wholesale. She enjoys the meetings of her bank because they help her make improvements in her business and in her family since she puts what she learns into practice. She will invest the loan she is requesting in a trip to Lima where she will buy more merchandise such as uniforms, school supplies and other items to take to the street markets to sell.
Previous Loan DetailsVirginia is a member of the Communal Bank “Atinchik”. She is 47 years old and a single mother of a 17 year old daughter. She has a clothing stand at the market in La Magdalena where she sells apparel for women, men, and children, as well as undergarments and other items. Virginia learned this ... More from Virginia's previous loan »
About FINCA PeruThis loan is administered by FINCA Peru, one of Kiva’s Field Partners in Peru. FINCA Peru is dedicated to empowering socially and economically disadvantaged women in Peru, contributing to the development of their families, and building sustainable communities.
In 1990, FINCA Peru began by lending to a small group of women widowed by the Shining Path terrorist movement in Ayacucho. Beyond loans and financial services, FINCA offers business development training, personal and family development training, gender empowerment sessions, life insurance products, and financial and social literacy sessions for the children of borrowers. Visit FINCA Peru’s Kiva Field Partner page to learn more.
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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