Update on Miguel AngelThis 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.
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 DetailsMiguel 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 typical… More from Miguel Angel'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.
57View loans »
Success!! The loan was 100% repaid
- Repayment Term
- 6 months (Additional Information)
- Repayment Schedule
- Jul 10, 2012
- Jul 19, 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.