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Augusta Renee

Update on Augusta Renee

Sra. Augusta continues to manage a bar, but she also added a foreign currency exchange business that she operates from her home. She divides her time between both businesses in order to increase her earnings. Augusta started this new business recently and now wants it to grow. For this reason, she is taking this opportunity to request a loan as a way of adding capital to her currency exchange business by supplying cash.


Augusta is extremely grateful to Kiva for helping her grow and strengthen her new business. She promises to complete her payments on time. Augusta is a member of the Communal Bank “Milagrosa Virgen del Carmen II” which is located in the city of Cusco, Peru.

View original language description ↓
La socia es la señora Augusta, ella continua con su negocio de bar, pero también esta incursionando en el negocio de casa de cambio de moneda extranjera, actividad que alterna a la del bar para incrementar sus ingresos económicos Augusta está realizando este último trabajo hace poco tiempo y desea que este crezca, para ello Augusta en esta oportunidad está solicitando el préstamo para capitalizar su casa de cambio de moneda e invertir dinero en efectivo, y por ello la socia está muy agradecida con KIVA, por ayudarla a hacer crecer y fortalecer esta nueva actividad, la socia se compromete a cumplir con el pago de sus cuotas puntualmente. Augusta pertenece al banco comunal “Milagrosa Virgen del Carmen II” de la ciudad del Cusco – Perú.

Previous Loan Details

Introducing Augusta Renee, a member of the “Milagrosa Virgen del Carmen II” Communal Bank, located in Wanchaq, a district of the Cusco province in the Cusco region. Augusta Renee is 55 years old, she is married and has 3 children. She alternates her daily chores with her job: she owns a pub wh... More from Augusta Renee's previous loan »

Additional Information

Important Information

About 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.

About Peru

  • $6,715
    Average annual income
  • 103
    View loans »
    Peru Loans Fundraising
  • $56,733,750
    Funds lent in using Kiva
  • 2.6
    Peru Nuevos Soles (PEN) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,550 helped Augusta Renee to supply cash for her currency exchange business.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 13, 2012
Listed
Oct 1, 2012
Currency Exchange Loss:
Possible
Ended:
Feb 15, 2013
This photo was used before for a previous loan for Augusta Renee. It was first posted on Kiva on Oct, 2010. Learn More