Update on Luis AlbertoAlberto has been a member of FINCA Perú for four years and his business is a bakery. He likes attending meetings because he learns much from the training like how to manage the business and how to save. He also likes it because the members share experiences and they learn much that way. He’s been able to use his savings to make some home improvements and they’ve also helped with his children’s schooling. The loan he’s requesting this time will be used to buy supplies needed to bake bread like flour, shortening, milk, sugar and others.
Previous Loan DetailsLuis, 52, has been a member of the Amor y Esperanza (Love and Hope) communal bank four years. He has 3 children and owns a bakery He learned a lot about how to keep his business running well and also how to improve his family relationships. He is doing well with Finca because of the trainings... More from Luis Alberto's previous loan »
About FINCA PeruThis loan is administered by FINCA Peru, one of Kiva’s Field Partners in Peru. FINCA Peru is dedicated to empowering socially and economically disadvantaged women in Peru, contributing to the development of their families, and building sustainable communities.
In 1990, FINCA Peru began by lending to a small group of women widowed by the Shining Path terrorist movement in Ayacucho. Beyond loans and financial services, FINCA offers business development training, personal and family development training, gender empowerment sessions, life insurance products, and financial and social literacy sessions for the children of borrowers. Visit FINCA Peru’s Kiva Field Partner page to learn more.
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