Update on KarenThe member’s name is Karen and she belongs to the Madres Trabajadores (Working Mothers) Communal Bank, located in the district, department, and province of Cusco. Karen continues with her business, selling oven-roasted ocas (a tuber similar to a potato). She is a street vendor and works in one of the markets in the city of Cusco. She works every day in the morning. Through this business, she helps her family get ahead. Karen is a happy and responsible person with a strong desire to continue working. She is requesting the loan to purchase more ocas for her business. She is happy to be receiving the loan and promise to make her payments on schedule.
La socia es la Sra. Karen; La socia continua trabajando con su negocio de venta de ocas al horno(es un tubérculo parecido a la papa)la socia vende de forma ambulatoria en uno de los mercados de la ciudad del Cusco,ella trabaja todos los dias por la mañana , siendo de esta manera que la socia saca adelante a su familia,la socia es una persona alegre y responsable con muchas ganas de continuar trabajando.
La socia solicita el préstamo para comprar mas ocas para su negocio.
La socia está feliz por el préstamo y se compromete a cumplir con los pagos de su cuota.
Previous Loan DetailsThe member belongs to the “WORKING MOTHERS” cooperative bank. The bank is located in the district of Cusco, in the Cusco province. The member is Karen; she is 20 years old, partnered, and has 1 son. She alternates her daily activities with the business of selling ocas (a tuber similar to a… More from Karen'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
- May 11, 2012
- May 25, 2012
- Currency Exchange Loss:
- Oct 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.