Update on TeresaThis member is from the communal bank "Union, Fuerza, Amistad." She is still running her business, which is a grocery store, where she sells basic necessities like rice, sugar, and milk, among others. She also continues to sell beauty products like creams, perfumes, and more. She has been working in this business for years, and it is going well thanks to the effort she puts into her business every day.
Teresa is a responsible and hardworking person, and therefore she is able to help her family get along. She is asking for this loan in order to buy milk and sugar for her business. She is thankful for the loan she is being given, and promises that she will make her repayments on time.
La socia solicita el crédito para la compra de leche y azúcar para su negocio.
La socia se siente agradecida por el crédito otorgado y se compromete a cumplir con sus cuotas establecidas.
Previous Loan DetailsTeresa belongs to the “Union Fuerza Y Amistad” (Unity, Strength, and Friendship) Communal Bank. This bank is located in the Cusco district, Cusco province, Cusco department. Teresa is 55 years old, married, and has three children. Her business is a grocery store. She sells basic needs items... More from Teresa'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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