Update on Maria ElenaMaria Elena continues being a member of the community bank "Santo Domingo". She is 49 years old, separated, and lives with her three children. Maria Elena has a restaurant in the popular district of Santiago of the city of Cusco. She has had the restaurant for 20 years and it is doing well. She serves a variety of food such as soups, daily breakfasts and lunches for 3 soles.
At this time, Maria Elena needs a loan to buy ingredients for her food preparation, such as sacks of rice, eggs, oil and meats. He goal for the future is to own a large restaurant.
En esta oportunidad Maria Elena requiere el préstamo para comprar ingredientes para preparar las comidas como por ejemplo sacos de arroz, huevos, aceite y carne. Su anhelo para el futuro es tener un gran restaurante de su propiedad.
Previous Loan DetailsSra. Maria Elena is a member of the Communal Bank “Santo Domingo” which is located in the District, Province, and Department of Cusco. She is 48 years old, single, and has three children. Maria Elena divides her time between her daily activities and her restaurant business. She prepares d... More from Maria Elena'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