Update on RosendoIntroducing Rosendo, a member of the "Virgen del Carmen de Yuncaypata" Communal Bank. Rosendo keeps on working as master builder, working in the different building sites that request his services. He has been engaged in this activity for many years, and things are going well thanks to the determination he daily works with. He is an independent contractor, and this is good for him as he has more time to spend with his family. Rosendo is a responsible and persevering person, as though this activity he provides for his family.
The loan he is requesting will be used to buy tools he needs such as handsaws and hammers.
He is grateful for the loan and he commits to complying with the repayments of his dues.
El socio solicita el credito para la compra de herramientas que necesita como serruchos,martillos y otros.
El socio se siente agradecido por el credito otorgado y se compromete a cumplir con sus cuotas establecidas.
Previous Loan DetailsRosendo is a member of the "Virgen del Carmen de Yuncaypata" community bank which is located in Yuncaypata community, in Cusco province and department. Rosendo is 43 years old and widowed. He is a master builder who works on different projects that are being carried out and request his servic... More from Rosendo'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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