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Hugo

Update on Hugo

This is Sr. Hugo. He is a member of the Communal Bank “Señor de Los Temblores II” which is located in the city of Cusco, Peru. Hugo continues to manage his business of distributing gas for household use. He is taking this opportunity to request a loan that will be used to help his wife’s business. She sells food at her restaurant. The money will be used to buy supplies such as rice, vegetables, meats, noodles, oil, and other items. This will inject capital into his wife’s business.


Hugo’s greatest wish is to provide more comfortable living conditions for his family and a better education for his children. He is grateful to Kiva for helping his wife develop and maintain her business.

View original language description ↓
El socio es el señor Hugo, él pertenece al banco comunal “Señor de los Temblores II” de la ciudad del Cusco – Perú. Hugo continúa con su actividad económica de distribuidor de gas domestico. Hugo en esta oportunidad está solicitando el préstamo para apoyar con el negocio de su esposa, quien se dedica a la venta de comida en su restaurante, y para ello comprará insumos como arroz, verduras, carnes, fideos, aceite etc. para capitalizar la actividad de su conyugue.
El gran sueño de Hugo es poder ofrecer a su familia mejores comodidades y una mejor educación a sus hijos.
Hugo agradece a KIVA por permitirle ayudar a su esposa en el desarrollo y mantenimiento de su actividad económica.

Previous Loan Details

Hugo was born in Cusco, Peru. He is 30 years old, lives with his partner, and has three small children. Hugo's work is selling and distributing cylinders of propane, a job he has been doing for some time and which has helped him support his household. Hugo is requesting this loan to buy a ph... More from Hugo'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
  • 82
    View loans »
    Peru Loans Fundraising
  • $55,191,575
    Funds lent in using Kiva
  • 2.6
    Peru Nuevos Soles (PEN) = $1 USD

Success!! The loan was 100% repaid

A loan of $600 helped Hugo to buy rice, vegetables, meats, noodles, oil, and other items for his wife's restaurant.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 19, 2012
Listed
Nov 4, 2012
Currency Exchange Loss:
Possible
Ended:
May 17, 2013
This photo was used before for a previous loan for Hugo. It was first posted on Kiva on Apr, 2012. Learn More