Update on YennyYenny continues to be a member of the community bank “Imasumac II” and is in the business of selling everyday necessities. She has a grocery store in her home. For the past several years she has been in this business and it is going very well for her. Because of this business, she is able to support her children. Her dream is to expand and improve her business. She is asking for this loan to buy sacks of rice, sacks of sugar, jugs of milk, and cookies at wholesale prices. She is happy about the loan and promises to make her payments on time.
Previous Loan DetailsYenny belongs to the Imasumac II communal bank. The bank is in the Huanchac district of the Cusco province and department. Yenny, age 30, is married and has three children. The children are 13, 8, and 8 months. Yenny manages her grocery store. She has her business in her house. She is a... More from Yenny'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