Update on FaustinaFaustina is a member of the “Siempre Juntos” (Always Together) communal bank whose meetings take place every thirty days in Huanchac District in Cusco province and Department.
Faustina continues buying and selling clothes; she also continues with her business selling appliances and shoes. She did very well with the previous loan and was able to earn good profits. On this occasion, Faustina needs the loan to buy clothes like jackets, shirts, skirts and other things.
Faustina is grateful for the loan opportunity that will allow her to invest in the business and to grow economically.
La socia Faustina sigue dedicándose al negocio de compra y venta de ropa, ella sigue también con el negocio de venta de artefactos y zapatos. Con el anterior crédito le fue muy bien y pudo obtener buenos beneficios. La socia Faustina en esta oportunidad requiere el préstamo para comprar ropa como por ejemplo casacas, camisas, faldas y otras cosas más.
La socia Faustina agradece la oportunidad del préstamo que le permitirá invertir en el negocio y crecer económicamente.
Previous Loan DetailsThis associate is a member of the Communal Bank “SIEMPRE JUNTOS” (Always Together); this bank is located in the District of Huanchac, in both the Province and Department of Cusco. The associate is Faustina. She is 51 years old, and has a partner and 3 children. She buys and sells clothing. She... More from Faustina'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
- Jun 11, 2012
- Jun 22, 2012
- Currency Exchange Loss:
- Nov 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.