Update on ReynaldoReynaldo, 44, is married, has 2 children, and lives in Urubamba province. He is a miner in the Puerto Maldonado area and must commute there often to work. Reynaldo is requesting a loan to buy an engine for his vehicle, which is key to getting to work. However, he hasn't had the money to purchase it.
Reynaldo thanks KIVA for helping him financially and letting him provide for his children's education and offer them a brighter future. His dream is to own several vehicles and provide transit service from Cusco to Puerto Maldonado. Reynaldo belongs to the communal bank “San Jose de Urubamba” in Urubamba province in Cusco, Perú.
Reynaldo está muy agradecido con KIVA por ayudarlo en su actividad económica y en la educación de sus hijos para procurarse un mejor futuro. Reynaldo tiene un sueño a futuro, y es la de poner una empresa de transporte con varios vehículos que cubran la ruta del Cusco a Puerto Maldonado. Reynaldo pertenece al banco comunal “San Jose de Urubamba” de la provincia de Urubamba del Cusco – Perú.
Previous Loan DetailsReynaldo is a member of the "San José de Urubamba" community bank which is located in Urubamba district, in Urubamba province, in Cusco department. Reynaldo is 43 years old. He lives with his partner and has two children. He divides his time between his daily activities and his job as a miner… More from Reynaldo'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
- 7 months (Additional Information)
- Repayment Schedule
- Aug 21, 2012
- Sep 16, 2012
- Currency Exchange Loss:
- Feb 15, 2013
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.