Update on Cleofe EufemiaCleofe Eufemia and her husband run a business producing and selling caskets elaborated from wood. Together, they have owned this studio for about 10 years.
With this loan, Cleofe Eufemia plans to purchase wood. She hopes that in the future she will be able to open a funerary home as well as a storefront to display and sell caskets to the public.
Cleofe Eufemia and her husband are raising two children, ages 4 and 9. She has used prior Kiva loans to invest in tools for her husband’s carpentry work, among other activities.
Cleofe Eufemia is a member of the village bank "Los Diamantes" in Cusco, which is receiving its 16th loan from Asociación Arariwa.
Previous Loan DetailsThis member belongs to the “Diamonds” Community Bank. This bank is located in the Huanchac district in the province and department of Cusco. This member’s name is Mrs. Cleofe. She is married and 43 years old. She does two different jobs. In the Christmas season she uses this loan to buy toys… More from Cleofe Eufemia'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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