Update on AnonymousThe borrower has worked as a kindergarten teacher for many years. In addition, she rents rooms in her house in order to earn extra income. She used her last loan to make repairs to her house so that the rooms will be more comfortable for lodgers. A new loan will help her continue construction and repairs on her house.
The borrower is receiving an individual loan as a member of the village bank "Hatunchaskas" in Cusco, which is located in the South Andean region of Peru. The bank is in its third cycle with Asociación Arariwa.
Previous Loan DetailsThis member belongs to the 'HATUNCHASKAS' communal bank, located in the district of Cusco, in Cusco province. She is 43 years old, and married with three children. She has a career teaching primary level, which she has done for many years. She is a cheerful person and eager to succeed and… More from Anonymous'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