Update on MercedesMercedes belongs to the communal bank Nueva Luz del Mañana.
She continues in the lodging business. She has spent years in this business and it is doing well thanks to the effort she puts in each day to the business. She feels happy with her business because it brings satisfaction both financial as well as personal. This is the way she supports the family.
She is asking for a loan to buy sheets and bedspreads for her business.
The borrower is grateful for the opportunity given to her through this means and furthermore she promises to complete her payments according to schedule.
La socia solicita el credito para la compra de sabanas y colchas para su negocio.
La socia se encuentra agradecida por la oportunidad brindada mediante este medio y así mismo se compromete a cumplir con el pago correspondiente al cronograma.
Previous Loan DetailsMercedes belongs to the "Nueva Luz del Mañana" communal bank, of the Asociación Arariwa in Cusco province, Cusco department. She is 37, married, and has four children, ages 17, 14, 12, and 5. The borrower runs a small guest house, on this occasion, wishes to invest in the purchase of fittings,... More from Mercedes'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
- 6 months (Additional Information)
- Repayment Schedule
- Dec 12, 2012
- Feb 1, 2013
- 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.