Update on IrisThis communal bank member is Iris. She belongs to the communal bank "Los Diamantes" (The Diamonds) in the city of Cusco, Peru. She continues with her work as a primary teacher in one of the city schools, and in parallel she is studying in the professional accounting program in one of the universities in Cusco. Iris knows that by studying and upgrading her skills she will be able to have a better future and in the future offer a better life to her family. She is applying for the loan to pay for her university studies. Iris feels grateful to Kiva for the loan offered and promises to make the scheduled payments.
Previous Loan DetailsShe belongs to the “Los Diamantes” (The Diamonds) communal bank and is still teaching third graders. At the same time, she’s still attending accounting classes at one of Cusco’s universities. She is a responsible, dedicated person who gets ahead this way. She teaches during the day Monday… More from Iris'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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