Update on FortunataShe continues as a member of the “Señor de Qoyllority de Lucre” communal bank and selling basic staples; that is she has a small grocery store at home. She’s been in business for several years now and does very well. She’s asking for the loan to buy merchandise like jugs of milk, sacks of rice, sacks of sugar, sacks of noodles, sacks of flour, cans of oil, eggs and many more things. She’s a responsible, kind person who supports her family and is happy with the loan and committed to making her installment payments.
Previous Loan DetailsFortunata is a member of the Communal Bank “Señor D. Qoyllority D. Lucre”. She lives in the District of Lucre, Quispicanchis Province, Department of Cusco. Fortunata is a 60-year-old widow. All of her children are independent, so she must now proviD. for her own food and personal expenses. ... More from Fortunata'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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