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Maria Elena

Update on Maria Elena

Maria Elena, 34, lives with her partner and two children. She runs a business selling artisan products, primarily knitwear, and jewelry such as earrings and necklaces. Previously, she worked as a street vendor selling food, but decided to change her activity in order to earn more income. She has also discontinued her weekend business selling furniture in order to focus full-time on her new endeavor. Maria Elena is requesting a loan to invest in thread and merchandise such as knit sweaters.

Maria Elena is pleased to receive the loan and promises to make her repayments on schedule. She is receiving her individual loan as a member of the village bank "Manos Juntas" (Hands Together) which meets monthly in Cusco. Cusco is located 3,400 meters above sea level in the Andean mountain range.

Previous Loan Details

The member belongs to the “Manos Juntas’ (Hands Together) communal bank located in Cusco District belonging to Cusco Province and Department. María Elena, 33, has a spouse and two children. She alternates her daily chores with a food selling business. She’s a street vendor of various types… More from Maria Elena's previous loan »

Additional Information

Important Information

About 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.

About Peru

  • $6,715
    Average annual income
  • 56
    View loans »
    Peru Loans Fundraising
  • $53,916,525
    Funds lent in using Kiva
  • 2.7
    Peru Nuevos Soles (PEN) = $1 USD

Success!! The loan was 100% repaid

A loan of $200 helped Maria Elena to buy thread and knit sweaters.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 26, 2012
Listed
Apr 17, 2012
Currency Exchange Loss:
Possible
Ended:
Aug 15, 2012
This photo was used before for a previous loan for Maria Elena. It was first posted on Kiva on Aug, 2011. Learn More