Update on MargaritaMargarita is a member of the “Señor de Sumaqcha” communal bank and she has a grocery store now; she used to provide meals for a few diners but noting that there was no store on her block with help from her husband they were able to open a small store. Of course, they are just starting but she hopes that everything will go well and with everything she’s learning from Finca she’s reaching her goals. She’s been a member for 6 years already and she is grateful for all the support they’ve given her. With the loan now she will buy groceries to fill her small store.
Previous Loan DetailsMargarita is a member of the Sumaqcha Communal Bank. "Sumaqcha" means "beautiful" in the indigenous language, Quechua. Margarita is married. She is 35 years old and has two children. She sells meals out of her home and provides boarding to foreigners who are part of the Mormon church. She has ... More from Margarita'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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Success!! The loan was 100% repaid