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Richard

Update on Richard

Richard was born in Cusco, Perú. He’s single and 23 years old. He works and studies.

Richard works repairing home appliances in his small, home-based repair shop. He dreams with having a proper, larger shop which he’s been saving up for and now he needs a loan to buy electronic spare parts to optimize his activity.

Richard belongs to the “San Rafael” communal bank in the city of Cusco. He values and appreciates the loan he’s been granted and commits to pay his debts in a disciplined way like he’s already done in the past.
View original language description ↓
El Sr. Richard, nació en Cusco – Perú, es soltero y ahora con 23 años de edad, se dedica a trabajar y a estudiar.
Richard trabaja reparando aparatos electrodomésticos en su pequeño taller ubicado en su casa, El sueña con tener un taller propio y mas grande, para lo cual ha estado ahorrando, y ahora el requiere de un préstamo para comprar repuestos electrónicos que le permitan optimizar su actividad.

El Sr. Richard pertenece al Banco comunal “SAN RAFAEL” de la ciudad del Cusco. El valora y agradece el préstamo otorgado y se compromete a cumplir con el pago de sus deudas de forma disciplinada como anteriormente ya lo había hecho.

Previous Loan Details

Sr. Richard is a member of the San Rafael Community Bank which is located in the Huanchac District, in the province and department of Cusco. He is single, 23 years old, and has a job as well as attending university where he is taking a business administration course. He works in a hotel at the... More from Richard'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

  • $12,000
    Average annual income
  • 118
    View loans »
    Peru Loans Fundraising
  • $57,346,375
    Funds lent in using Kiva
  • 2.7
    Peru Nuevos Soles (PEN) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Richard to buy spare parts for his shop.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 16, 2012
Listed
Apr 28, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 15, 2012