Update on Maria LuisaThe borrower is María Luisa. She is continuing with her business selling crafts: mainly knitted items such as sweaters, scarves, gloves, hats, etc. She sells them at her stand in one of the city's most important craft markets.
María Luisa has supported herself by working in this business, which has allowed her to move forward in life and to be able to raise her children.
The borrower is requesting the loan to buy merchandise such as sweaters, ponchos and scarves, in order to capitalize her business. For that reason she is very grateful to Kiva for helping her progress in her work. She promises to make her installment payments on time.
María Luisa belongs to the “Kukuli" communal bank in the city of Cusco, Peru.
Previous Loan DetailsMaría Luisa belongs to the “Kukuli” Communal Bank of the UMF Arariwa Association of the city of Cusco, Perú. The Communal Bank has been in operation for four years and is well managed by its governing board.
María Luisa is 50 years old and has three children. She was born in the department of… More from Maria Luisa'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