Update on Daniel OmarThis borrower is a member of the Communal Bank “Sr. de Los Temblores III”. He continues to work at a tourist restaurant where he prepares different types of international and local dishes. At the same time, he continues his business of selling handicrafts. He has done well in his business thanks to the effort he puts forth each day. The borrower continues to help his sister in her new restaurant business that is also doing well. He is a responsible and industrious individual who seeks to get ahead by working in this manner.
The loan he is requesting will be used to buy merchandise, such as alpaca sweaters, to sell in his craft business. The borrower is grateful for the loan that has been provided and promises to complete his payments according to the established terms.
El socio solicita el credito para la compra de mercaderia para su negocio de artesania como chompas de alpaca.
EL socio se siente agradecido por el credito otorgado y se compromete a cumplir con sus cuotas establecidas.
Previous Loan DetailsDaniel Omar is a 24-year-old chef in a touristic restaurant in Cusco. He prepares dishes that are both international and regional in nature. He has had this job for more than two years and says that one of his favorite dishes to prepare is Peruvian ceviche (a seafood dish typically made of fresh… More from Daniel Omar'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
- Repayment Term
- 8 months (Additional Information)
- Repayment Schedule
- Oct 24, 2012
- Nov 18, 2012
- Currency Exchange Loss:
- May 17, 2013
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.