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Emilio

Update on Emilio

Emilio continues in the “Los Solidarios” communal bank and making crafts. He works weaving such things as sweaters, gloves and blankets out of Alpaca wool. His work day starts at 8am and ends at 7pm. He supports his family by means of this business. He requests the loan to do some home improvements and to feed his children. He’s happy about the loan and commits to make his payments.
View original language description ↓
Emilio continúa en el banco comunal “Los Solidarios” y en la elaboración de artesanía. Él trabaja en la producción de tejidos como chompas, guantes, mantas en base de lana de alpaca. Su jornal laboral empieza desde las 8:00 a.m. hasta las 7:00 p.m. Por medio de este negocio saca adelante a su familia. Solicita el crédito para hacer mantenimiento de hogar y para la alimentación de sus hijos. Está feliz por el préstamo y se compromete a cumplir con los pagos de su cuota.

Previous Loan Details

Our member belongs to the LOS SOLIDARIOS community bank in Urubamba, a district in the Peruvian "departamento" of Cusco. He operates a crafts business, making and selling sweaters, gloves, blankets and other merchandise that he makes himself. He works from 8:00 in the morning until 7:00 at ni... More from Emilio'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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Peru

  • $12,000
    Average annual income
  • 125
    View loans »
    Peru Loans Fundraising
  • $57,923,600
    Funds lent in using Kiva
  • 2.6
    Peru Nuevos Soles (PEN) = $1 USD

Success!! The loan was 100% repaid

A loan of $775 helped Emilio to do some home improvements and to feed his children.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 22, 2012
Listed
Nov 5, 2012
Currency Exchange Loss:
Possible
Ended:
Mar 15, 2013