Update on VictoriaVictoria is a member of the “Reyna de los Angeles” community bank in Urubamba province in Cusco – Peru. She works in the production and wholesaling of vegetables, such beans and greens, and distributes them to markets in the region. She also raises and sells small animals, like guinea pigs and hens. In this loan cycle, Victoria will invest her funds in buying hens and guinea pigs, which she will fatten and then sell in the market. These activities are very common in this part of the region because of the climate of Urubamba is good for growing and cultivating vegetables and small animals.
In this opportunity, Victoria will use the loan to purchase hens and guinea pigs to increase her production and satisfy the demand of her clients.
Victoria is very grateful to Kiva for allowing her to give a better quality of life to her family since with these activities she can educate her children who are independent adults, and help them grow and strengthen their activities.
Victoria está muy agradecida con KIVA por permitirle dar una mejor calidad de vida a su familia ya que con estas actividades pudo educar a su hijos que ya son adultose independientes, y por ayudarla con el crecimiento y fortalecimiento de sus actividades.
Previous Loan DetailsVictoria belongs to the communal bank "Reyna de Los Angeles." This bank is located in the district of Urubamba, which is in Urubamba province in the department of Cusco. Victoria is 48 years old, married, and has 4 children. She alternates her daily activities with her business raising… More from Victoria'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 11, 2012
- Jul 23, 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.