Update on WalterWalter owns a metal workshop, where he produces all sorts of metal products such as doors, roofs, windows and stairs. He is 31 years old and single and has been working in this trade for ten years.
Walter is requesting a loan in order to purchase machinery such as a solder and a drill. Further into the future, Walter aspires to continue growing his business and add a rolling machine to his inventory of equipment, so that he can offer rolled iron products.
Walter is a member of the village bank "Los Diamantes" in Cusco, which is receiving its 16th loan from Asociación Arariwa.
Previous Loan DetailsWalter is 30 years old and single. He has his own carpentry business, specializing in metal. He has been doing this sort of work for about 4 years. Walter is asking for a 1,000 dollar loan in order to buy more materials for his business. Specifically, he plans to purchase more machinery and b... More from Walter'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