Update on Maria MagdalenaMaria continues as a member of the 'IMASUMAC II' community bank which is located in Wanchaq district, in Cusco province and department.
Maria continues selling costume jewelry. She works together with her husband and the couple make different items such as earrings, brooches, rings, bracelets, and necklaces. They sell their products to customers, work colleagues, friends, family members and other people. With her previous loan, Maria was able to increase her business capital and she made good profits. On this occasion, she would like to invest in buying materials so that she can make more jewelry. She will buy merchandise such as colored beads, quartz, stones, wires of different materials, small hooks, etc.
Maria is grateful for the support that she receives and she pledges to make her repayments in a disciplined manner.
La socia Maria sigue dedicando a la venta de joyas de fantasía fina, ella trabaja junto a su conyugue y ambos elaboran las diferentes piezas de aretes, prendedores, anillos, brazaletes, collares, ellos venden sus productos a clientes, compañeros de trabajo, amigos, familiares y a otras personas más. Con el anterior crédito la socia María pudo incrementar el capital del negocio y obtuvo buenos beneficios. En esta oportunidad la socia Maria desea invertir en la compra de materiales para la realización de mayor número de bisutería, ella comprara mercadería como por ejemplo mostacillas de colores, cuarzos, piedrillas, alambres de diferentes materiales, ganchitos y otros.
La socia María agradece el apoyo que se le otorgara y así mismo se compromete a cumplir de manera disciplinada con los pagos de las cuotas.
Previous Loan DetailsMaria is a member of the "Imasumac II" community bank which is located in Huanchac district, in Cusco province and department. Maria is 58 years old, married, and has seven children who all live independently. Her business is selling costume jewelry. She works together with her husband making… More from Maria Magdalena'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