Update on SergioThe member, Sergio, belongs to Virgen del Carmen de Yucaypata Communal Bank. He continues making a living in construction, working on various jobs that request his services, both in town and outside. He works on his own and has been doing this job for years. It's going well for him because of the effort he puts into his job every day. He's a responsible and hardworking person, which is how he gets his family ahead.
He's requesting the loan to buy some tools he needs such as saws and trowels.
He's grateful for the loan and pledges to be disciplined in making his payments.
El socio solicita el credito para la compra de algunas herramientas que necesita como cierras y badilejos.
El socio agradece el préstamo y se compromete a cumplir disciplinadamente con el pago de sus cuotas.
Previous Loan DetailsThis member belongs to the “VIRGEN DEL CARMEN DE YUNCAYPATA” bank. This friendly bank is located 30 minutes from the city of Cusco in the village called Yuncaypata. This is a typical small village, in that it conserves its pure Andean heritage and they live together as a community, helping each… More from Sergio'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
- Repayment Term
- 8 months (Additional Information)
- Repayment Schedule
- Sep 13, 2012
- Oct 14, 2012
- Currency Exchange Loss:
- Apr 17, 2013
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.