Update on RosaRosa is married and has 3 children. She continues to sell backpacks and sporting gear at one of the city´s leading fairs. Rosa works hard to provide for her family and for her second son, who is getting ready to go to college, and to maintain her business, which is her family´s main source of income. So, she is applying for a loan to buy merchandise such as backpacks, shirts, caps, and diving gear. She thanks Kiva for helping her strengthen and grow her business. She belongs to the communal bank “SUMAC SONCCO” in Cusco, Perú.
Previous Loan DetailsRosa is the president of the Sumac Soncco (“Loving Heart” in Quechua) Village Bank. She is 42 years old and married with three children who are 23, 15 and 11 years old. Rosa sells backpacks from a stand at the Paraiso Commercial Center in the city of Cusco. She has been in this business for eight… More from Rosa'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