Update on ArturoOur partner is Mr. Arturo. He belongs to the communal bank “Ricchary Runa” from the city of Cusco - Perú. Arturo keeps providing moving services, work he has been doing with his vehicle for a long time now, and that helps him to support his family and finish building his house. This is why, this time, he will invest the loan requested to buy plaster and cover the walls. Arturo is very thankful to Kiva for allowing him to keep doing his business activity and to support him with his family, and fulfilling his dream of finishing the construction of his house. Arturo is thankful for the loan and commits to making all the repayments according to schedule.
Arturo está muy agradecido con KIVA por permitirle mantenerse en su actividad y por apoyarlo con su familia y por concretar su sueño de terminar de construir su casa.
El socio agradece el préstamo y se compromete a cumplir con el pago de sus cuotas de acuerdo al cronograma de pagos.
Previous Loan DetailsThe name of this communal bank is “RICCHARY RUNA”. They meet every month in the afternoon in the Huanchac district, Cusco province, Cusco department. Our member is Arturo. He is married and has five children. He is 73 years old, and he is from the Cusco department. His wife, Juana, is a… More from Arturo'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