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Miguel Angel

Update on Miguel Angel

This member is Sr. Miguel Angel. He belongs to the Communal Bank “Cusco Sur” which is located in the city of Cusco, Peru. Miguel continues to provide taxi services. For this reason, he will invest the loan he requested in necessary maintenance of his vehicle and also in the purchase of a few spare parts.


Miguel Angel is extremely grateful to Kiva for enabling him to maintain his business and support his family. He is appreciates the loan and promises to complete his payments according to schedule.

View original language description ↓
Nuestro socio es el señor Miguel Angel, él pertenece al banco comunal “Cusco Sur” de la ciudad del Cusco - Perú, nuestro socio sigue dedicándose al servicio de Taxi, por ello invertirá el préstamo solicitado para hacerle un mantenimiento integral a su vehículo y comprarle algunos repuestos.
Miguel Angel está muy agradecido con KIVA por permitirle mantenerse en su actividad y por apoyarlo con su familia.
El socio agradece el préstamo y se compromete a cumplir con el pago de sus cuotas de acuerdo al cronograma de pagos.

Previous Loan Details

Miguel Angel is requesting a loan to purchase corrugated iron to make a new roof for his house. He has been working with Asociacón Arariwa for three years, and earns a living as a taxi driver in Cusco. He just bought his own car in the past year. Prior to that, he rented a vehicle. His typica... More from Miguel Angel's previous loan »

Additional Information

Important Information

About 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.

About Peru

  • $6,715
    Average annual income
  • 88
    View loans »
    Peru Loans Fundraising
  • $55,985,050
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $400 helped Miguel Angel to pay for vehicle maintenance and to buy spare parts.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 10, 2012
Listed
Jul 19, 2012
Currency Exchange Loss:
N/A
Ended:
Dec 15, 2012
This photo was used before for a previous loan for Miguel Angel. It was first posted on Kiva on Mar, 2012. Learn More