Update on Maria MercedesMaría continues as a member of Asociación Arariwa's "Virgen Estrella de Oropesa" community bank. She continues making and embroidering cloaks and clothing for people taking part in 'Santos y Vírgenes' celebrations. She is an entrepreneurial and hard-working woman who provides for her family and seeks out the best opportunities for giving her children a good quality of life. On this occasion, María needs a loan to buy embroidery floss, needles and fabric.
María is happy to be receiving her loan and pledges to make her repayments on time.
La socia está feliz por el préstamo y se compromete a cumplir con los pagos de su cuota.
Previous Loan DetailsMaria is a member of the "Virgen Estrella de Oropesa" community bank which is located in the town of Oropesa, in Quispicanchis province, in Cusco department. Maria is 50 years old, married, and has three children who are grown up and live independently. Maria makes pennants. People place… More from Maria Mercedes'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