Update on Luis AlfredoThis is Sr. Luis. He continues to manage a “picantería” (a restaurant that serves spicy dishes) where he prepares traditional regional foods. Luis is requesting a loan so that he can buy supplies such as meat, rice, noodles, dried vegetables, and beer so that he can continue producing in this trade.
Luis is extremely grateful to Kiva for helping him maintain his business. He is a member of the Communal Bank “El Templo del Inca” (The Incan Temple), which is located in the city of Cusco, Peru.
Luis está muy agradecido con KIVA por ayudarlo en el mantenimiento de su actividad económica. El pertenece al banco comunal “El Templo del Inca”; de la ciudad del Cusco – Perú.
Previous Loan DetailsLuis Alfredo was born in the city of Puno. He is 56 years old and lives in the city of Cuzco with his 3 children. For two years and a half he has had a small restaurant, a chicken restaurant. Luis Alfredo is the manager of his restaurant, which is named “El Fogón”. Luis Alfredo has a loan with th... More from Luis Alfredo'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