Update on ElenaThe member belongs to the “Virgen Asunta de Rasca” communal bank located in Cusco District belonging to Cusco Province and Cusco Department.
Elena is the member. She alternates her daily chores with the business of selling potatoes. She has a stand in one of the city of Cusco’s markets. She works every day selling her merchandise to her customers that request it. She is a responsible person and this is the way she moves her family forward. She wants to enlarge the potato selling business.
She is asking for the loan to buy more potatoes for her business. She is happy about the loan and commits to make her installment payments.
La socia es la Sra. Elena;La socia alterna sus actividades diarias con el negocio de venta de papa, ella tiene un puesto en uno de los mercados de la ciudad del Cusco, la socia trabaja todos los dias vendiendo su mercaderia a sus clientes que le solicitan,la socia es una persona responsable siendo de esta manera que la socia saca adelante a su familia,la socia quiere ampliar el negocio de venta de papa.
La socia solicita el préstamo para comprar mas mercaderia de papa para su negocio.
La socia está feliz por el préstamo y se compromete a cumplir con los pagos de su cuota.
Previous Loan DetailsIntroducing Elena, a member of “VIRGEN ASUNTA DE RACSA” a communal bank located in the Cusco district, province and department. Elena is 60 years old, she is single and has 2 children. She alternates her daily chores with retail activity: she sells potatoes and she has a stall in Huancaro,in t... More from Elena'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
- Repayment Term
- 6 months (Additional Information)
- Repayment Schedule
- Mar 23, 2012
- Apr 19, 2012
- Currency Exchange Loss:
- Aug 15, 2012
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.