Update on AugustoSr. Augusto is a native of Urubamba Province, which is located in the Sacred Valley of the Incas, Department of Cusco, Peru. He is a member of the Communal Bank "Virgen de Natividad". Augusto is 36 years old and has spent his entire life devoted to agriculture and raising livestock. He does not have an academic education nor was he able to finish school. Augusto has a wife and two young children, ages 7 and 3.
He has a job that requires great sacrifice since he must work long hours each day. Throughout the week, he devotes a lot of time to gathering enough capital so that he can buy a new head of cattle that he can eventually sell at the weekly community fair. In addition, he grows a few vegetables and herbs on his land. His work follows a routine, and he has always operated in this manner.
Augusto needs a new loan so that he can acquire a head of cattle that he can sell later. This will give him more capital to prolong and grow his business.
El Señor Augusto tiene una labor muy sacrificada por la naturaleza de su trabajo que le demanda muchas horas al día, todos los días de la semana él labora por largas jornadas para reunir un capital que le permitirá comprar nuevo ganado y posteriormente poder venderlo en la feria semanal de la comunidad conjuntamente con algunas verduras y hortalizas las cuales extrae de su parcela. Su trabajo es rutinario y fue siempre de esa manera, así que el requiere de un nuevo préstamo para poder adquirir un nuevo ganado y posteriormente venderlo y así hacerse de mayor capital para prolongar y hacer crecer su actividad comercial.
Previous Loan DetailsAugusto was born in the city of Huayllabamba, and this is where he still lives. The Peruvian district of Huayllabamba is one of the seven districts of Urubamba province, located in the department of Cusco in the Cusco region of Peru. Augusto is 36 years old and is in a common-law marriage that… More from Augusto'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
- Apr 13, 2012
- Apr 25, 2012
- Currency Exchange Loss:
- Sep 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.