Update on SoledadSoledad belongs to the communal bank "LOS DIAMANTES" (The Diamonds) in the city of Cusco in Peru.
The member continues to work as an early years teacher. At the same time, she continues to make items of clothing such as woollen scarves, gloves, hats, jumpers etc. She distributes them directly and at the request of her customers.
Soledad has been doing this for many years and this is her main source of income and way of providing for her family.
Soledad requests this loan to buy materials such as sheep and alpaca wools, threads and accessories to make her items. She feels thankful to Kiva for helping her to maintain and strengthen her work.
Previous Loan DetailsThe member continues to make a living from knitting, she knits sweaters, scarves and trousers. The member sells her products independently taking them to the clients. The member also continues to work as a teacher of the initial level, the dream of the member is to have a small store where she… More from Soledad'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