Update on Maria TeresaMaría Teresa is one of our customers: she is a member of “Mujeres Emprendedoras” (Enterprising Women), a Communal Banks of the town of Cusco, Peru. She keeps on buying clothes that she then sells in one of the most popular fairs in her town. María Teresa will invest the loan she is requesting in the purchase of products such as trousers, zip jackets and shirts.
María Teresa is deeply grateful to KIVA for allowing her to carry on with her activity and for helping her supporting her family.
She is thankful for the loan and she commits to complying with the repayment of her dues according to her repayment schedule.
María Teresa está muy agradecida con KIVA por permitirle seguir con su comercio y por apoyarla con su familia.
La socia agradece el préstamo y se compromete a cumplir con el pago de sus cuotas de acuerdo al cronograma de pagos.
Previous Loan DetailsTeresa is a member of the “Mujeres Emprendedoras” (Resourceful Women), a Communal Bank whose members meet every thirty days in the town of Cusco. Teresa is a resourceful and hardworking mother who engages in selling clothes. She owns a small stand in one of the most popular markets in Cusco. She… More from Maria Teresa'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
- Jul 6, 2012
- Jul 17, 2012
- Currency Exchange Loss:
- Dec 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.