Update on FranciscaMeet Francisca: she is a member of the communal bank “Virgen Asunta de Racsa” and comes from the city of Cusco, Peru. For many years she has made a living by selling potatoes. She has managed to improve and develop her business, and her family has benefited from this.
Francisca supplies potatoes at different markets around Cusco. Thanks to her hard work and efforts she has managed to expand her customer base. She plans to invest her loan in funding her business. She will buy different varieties of potatoes wholesale, in order to target her market niche and meet demand.
Francisca is very grateful to KIVA for helping her to educate her children and for allowing her to keep her business going and provide for her family.
Francisca está muy agradecida con KIVA por ayudarla con la educación de sus hijos y por permitirle mantenerse con su actividad y llevar el sustento a su casa.
Previous Loan DetailsThis borrower belongs to the "Virgen Asunta de Racsa" communal bank, located in the district, province, and department of Cusco. This borrower is Ms. Francisca. She is 38 years old, in a common-law marriage, and has two children. She divides her time between her daily activities and a business... More from Francisca'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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