Update on Elvia MaribelElvia continues in the “Ricchary Cusco” communal bank located in Cusco District belonging to Cusco Province and Department. She continues selling stuffed toys. She sells her products from 9am until 8pm. Her dream is to expand the stuffed toy business. She’s requesting the loan to buy stuffed toys at wholesale that she’ll bring from the city of Arequipa. She’s happy with the loan and commits to make her installment payments.
La socia se sigue dedicando al negocio de venta de peluches, ella vende desde las 9:00 a.m hasta las 8:00 p.m sus productos, el sueño de la socia es ampliar el negocio de venta de peluches. La socia solicita el crédito para comprar peluches al por mayor que traerá de la ciudad de Arequipa.
La socia está feliz por el préstamo y se compromete a cumplir con los pagos de su cuota.
Previous Loan DetailsThis member belongs to the communal bank Ricchary Cusco. This communal bank can be found in the district of Huanchac in the province of Cusco, and department of Cusco. The member is Elvia. She is 30 years old. The member lives with her life-partner. She has her own business selling and buying st... More from Elvia Maribel'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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