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Sofia

Update on Sofia

Sofía is a member of the “Señor de los Temblores II” (Lord of Tremors II) communal bank in the city of Cusco, Peru. She’s a young, hardworking, devoted mother. She’s still selling food from place to place.

On this occasion, Sofía is requesting the loan to buy ingredients like rice, vegetables, meat, etc. to make her dishes. Sofía works a lot and sacrifices to pay for school for her children who are school age and this is why she’s very grateful to KIVA for making it possible for her to provide better education for her family.
View original language description ↓
La socia es la señora Sofía, ella pertenece al banco “Señor de los Temblores II” de la ciudad del Cusco – Perú. La socia es una joven madre de familia muy trabajadora y sacrificada, ella continua dedicándose a la venta de comida de forma ambulatoria, Sofía en esta oportunidad está solicitando el préstamo para comprar insumos como arroz, verduras, carnes, etc. para elaborar sus alimentos, Sofía trabaja mucho y se sacrifica para pagarles la educación a sus hijos que están en edad escolar, y por ello la socia está muy agradecida con KIVA por permitirle dar una mejor educación a su familia.

Previous Loan Details

Sofia is 47 years old, married and has 7 children. Sofia's principal economic activity is selling meals in one of the city markets. She has been doing this for many years and has gained much experience in the food business. Sofia needs a loan very much to enhance her business and, thus, to be abl... More from Sofia's previous loan »

Additional Information

Important Information

About 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.

About Peru

  • $6,715
    Average annual income
  • 124
    View loans »
    Peru Loans Fundraising
  • $56,823,625
    Funds lent in using Kiva
  • 2.6
    Peru Nuevos Soles (PEN) = $1 USD

Success!! The loan was 100% repaid

A loan of $400 helped Sofia to buy ingredients like rice, meat and vegetables.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 19, 2012
Listed
Nov 2, 2012
Currency Exchange Loss:
Possible
Ended:
May 17, 2013
This photo was used before for a previous loan for Sofia. It was first posted on Kiva on Apr, 2012. Learn More