Update on MargaritaMargarita is a member of the Violeta community bank. She is 61 years old, a widow and has one son. She has been a member of FINCA Peru for 16 years and is a retired teacher. She owns her own restaurant where she sells traditional Peruvian dishes. She also has a business selling gas. During her years as a FINCA Peru member, Margarita has worked hard and managed to add a second storey to her house. Her dream for the future is to build another house that she can rent out. Over all these years, what Margarita has learned the most is how to save. She will invest the loan that she is requesting in buying gas to sell in her business.
Previous Loan DetailsMargarita is a fifty-seven year old separated mother with one child. She is an unemployed teacher, but owns a convenience store at her house where she sells vegetables, meat, groceries, liquor, telephone cards, and gasoline. Additionally, Margarita travels to the city of Tambo every two weeks whe... More from Margarita's previous loan »
About FINCA PeruThis loan is administered by FINCA Peru, one of Kiva’s Field Partners in Peru. FINCA Peru is dedicated to empowering socially and economically disadvantaged women in Peru, contributing to the development of their families, and building sustainable communities.
In 1990, FINCA Peru began by lending to a small group of women widowed by the Shining Path terrorist movement in Ayacucho. Beyond loans and financial services, FINCA offers business development training, personal and family development training, gender empowerment sessions, life insurance products, and financial and social literacy sessions for the children of borrowers. Visit FINCA Peru’s Kiva Field Partner page to learn more.
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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