Update on RichardRichard belongs to the communal bank San Rafael. He is continuing in his business repairing appliances such as televisions, radios, blenders and other items. He has a small shop located in his home. He has been in this business for years, and things are going well thanks to the painstaking effort he puts into his business. He works from Monday through Friday during the day in order to get ahead.
He hopes he will be able to continue saving and eventually be able to have a proper shop of his own where he can do his work.
He is seeking this loan in order to buy spare parts for his business. He is thankful and values this loan opportunity, and he promises to make his scheduled repayments in a disciplined manner.
El socio solicita el credito para la compra de repuestos para su negocio.
El socio valora y agradece el préstamo otorgado y se compromete a cumplir con el pago de sus cuotas de forma disciplinada.
Previous Loan DetailsSr. Richard is a member of the San Rafael Community Bank which is located in the Huanchac District, in the province and department of Cusco. He is single, 23 years old, and has a job as well as attending university where he is taking a business administration course. He works in a hotel at the... More from Richard'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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